In a report released today, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on Healthequity (HQY), with a price target of $90. The company’s shares opened today at $82.87.
Halper said:
“. We reiterate our Overweight rating on HQY shares and increase our price target to $90 from $83. After the market close today, Monday, March 18, HQY reported better-than-expected F4Q19 results. The company reiterated its FY20 revenue and adjusted EBITDA guidance, which it provided in early February. Although the company’s adjusted EBITDA guidance suggests about 14% y/y growth at the mid-point of the range, the company continues to invest in new products that affect short-term profitability. Still, the company reiterated that the adjusted EBITDA margin in FY20 would be similar to that in FY19 (about 41%), which we view as impressive.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 17.4% and a 62.4% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Healthequity with a $81.50 average price target.
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The company has a one-year high of $101.58 and a one-year low of $50.29. Currently, Healthequity has an average volume of 863.3K.
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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.
