Cantor Fitzgerald analyst Steven Halper reiterated a Hold rating on Healthequity (NASDAQ: HQY) yesterday and set a price target of $80. The company’s shares closed yesterday at $94.47, close to its 52-week high of $96.29.
Halper wrote:
“. We reiterate our Neutral rating on HQY shares, but increase our price target to $80 from $68. AMC on Tuesday, September 4, HQY reported solid F2Q19 results, which were above FactSet consensus and our estimates. Adjusted EPS were $0.34 vs. our estimate of $0.25. Again, the company raised its FY19 revenue and EPS guidance as it continues to gain market share in both HSA accounts and assets. We believe HQY remains well-positioned due to its strong platform and continued adoption of high-deductible health plans and HSAs. Despite the company’s strong fundamentals, we believe its long-term growth potential is already reflected in the stock valuation. We note the shares were about 4% lower in after-hours trading.”
According to TipRanks.com, Halper is a top 25 analyst with an average return of 25.9% and a 78.3% 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 Moderate Buy with an average price target of $84.29.
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Healthequity’s market cap is currently $5.84B and has a P/E ratio of 106.15. The company has a Price to Book ratio of 14.70.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. Most recently, in July 2018, Frank Medici, a Director at HQY sold 6,904 shares for a total of $555,013.
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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.
