Oppenheimer analyst Mohan Naidu reiterated a Buy rating on Healthequity (HQY) today and set a price target of $104. The company’s shares closed yesterday at $83.60.
Naidu commented:
“HQY reported solid F3Q19 rev./EPS at $70.5M/$0.28 vs. $69.6M/$0.25, helped by a continued uptick in yields (2.14% vs. 1.85% a year ago). HSAs rose 22% y/y to 3.7M, with total AUM climbing 27% to $7.1B. The company also lifted its FY19 guidance (ends 1/31/19), despite making increased investments in a new Chief Security Officer. While nothing concrete has materialized on the Washington legislative front since the midterm elections, we were very encouraged by two new retirement plan partnerships (Vanguard and Nationwide) signed in the quarter which have the potential to increase member interaction and member savings via the most optimal route. Reiterate Outperform rating, $104 PT.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 15.3% and a 61.6% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Express Scripts.
Healthequity has an analyst consensus of Moderate Buy, with a price target consensus of $102.50, implying a 22.6% upside from current levels. In a report issued on December 3, Barrington also reiterated a Buy rating on the stock with a $100 price target.
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The company has a one-year high of $101.58 and a one-year low of $42.92. Currently, Healthequity has an average volume of 880.7K.
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HealthEquity, Inc. engages in the provision of healthcare saving solutions. Its products include healthcare saving and spending platform, health savings accounts, investment advisory services, reimbursement arrangements, and healthcare incentives. The company was founded by Stephen D. Neeleman on September 18, 2002 and is headquartered in Draper, UT.
