Cantor Fitzgerald analyst Steven Halper reiterated a Hold rating on Healthequity (HQY) today and set a price target of $82. The company’s shares closed on Tuesday at $83.60.
Halper said:
“. We reiterate our Neutral rating on HQY shares and increase our price target to $82 from $80. After the market close on the company reported strong F3Q19 results that were ahead of our estimates and FactSet consensus. HQY raised its full year guidance ranges at their midpoints. We believe the company is poised for strong growth in F20. HQY’s 4Q is the company’s most active quarter for new member growth. The company also mentioned investments it will be making in 4Q and FY2020. The investments will be offset by a lower than expected tax rate. We maintain our view that the shares’ current valuation already reflects the company’s long-term growth potential.”
According to TipRanks.com, Halper is a top 25 analyst with an average return of 20.9% and a 69.7% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Currently, the analyst consensus on Healthequity is a Strong Buy with an average price target of $103.
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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 876.4K.
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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.
