After Barrington and J.P. Morgan gave Healthequity (NASDAQ: HQY) a Buy rating last month, the company received another Buy, this time from Chardan Capital. Analyst Steven Wardell reiterated a Buy rating on Healthequity today and set a price target of $92. The company’s shares closed on Friday at $67.24.
Wardell said:
“We like Management’s continued confidence and execution. We continue to like the strong macro trends behind the HSA sector despite the ongoing Congressional regulatory logjam around HSA issues, as Management highlighted at their investor day. We see Management continuing to grow share in this expanding market. We reiterate our Buy and Raise our Price Target to $92.”
Wardell has an average return of 19.3% when recommending Healthequity.
According to TipRanks.com, Wardell is ranked #654 out of 5208 analysts.
Healthequity has an analyst consensus of Moderate Buy, with a price target consensus of $85.17, a 26.7% upside from current levels. In a report issued on June 10, Raymond James also maintained a Buy rating on the stock with a $85 price target.
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Healthequity’s market cap is currently $4.22B and has a P/E ratio of 45.88. The company has a Price to Book ratio of 7.97.
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HealthEquity, Inc. provides range of solutions for managing health care accounts. The firm’s offers its solutions for employers, health planbs, brokers, consultants and financial advisors.
