After Raymond James and Cantor Fitzgerald gave Healthequity (NASDAQ: HQY) a Buy rating last month, the company received another Buy, this time from Barrington. Analyst Alexander Paris maintained a Buy rating on Healthequity today and set a price target of $100. The company’s shares opened today at $69.83.
Paris observed:
“We believe this premium is warranted for HQY given its leading position within the HAS market, the leverage inherent in the model and its high free cash flow conversion. As such, we are reiterating our OUTPERFORM rating and price target of $100. HealthEquity is one of the largest health savings account administrators in the United States.”
According to TipRanks.com, Paris is a 4-star analyst with an average return of 6.8% and a 50.0% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, Strategic Education Inc, and Franklin Covey Company.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Healthequity with a $82.57 average price target, a 18.2% upside from current levels. In a report released today, SunTrust Robinson also upgraded the stock to Buy with a $81 price target.
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Based on Healthequity’s latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of $15.69 million. In comparison, last year the company had a net profit of $5.91 million.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2018, Jon Kessler, the President & CEO of HQY bought 17,410 shares for a total of $718,685.
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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.
