Healthequity (NASDAQ:HQY) had its price objective raised by Chardan Capital from $58.00 to $62.00 in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s target price would suggest a potential upside of 34.78% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised Healthequity from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Wednesday, October 11th. Cantor Fitzgerald reissued a “buy” rating and set a $56.00 price objective on shares of Healthequity in a report on Tuesday, August 29th. BidaskClub cut Healthequity from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, Oppenheimer reissued a “buy” rating and set a $61.00 price objective on shares of Healthequity in a report on Wednesday, September 6th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $58.33.

Healthequity (NASDAQ HQY) traded down $2.49 during mid-day trading on Wednesday, hitting $46.00. The stock had a trading volume of 1,624,531 shares, compared to its average volume of 527,424. The company has a market cap of $2,955.48, a P/E ratio of 77.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.74. Healthequity has a 12 month low of $37.62 and a 12 month high of $55.31.

Healthequity (NASDAQ:HQY) last issued its quarterly earnings data on Tuesday, December 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $56.80 million for the quarter, compared to analysts’ expectations of $55.27 million. Healthequity had a return on equity of 13.93% and a net margin of 20.27%. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. sell-side analysts predict that Healthequity will post 0.7 EPS for the current fiscal year.

In other Healthequity news, insider Stephen Neeleman sold 8,500 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $45.24, for a total value of $384,540.00. Following the sale, the insider now owns 1,000 shares of the company’s stock, valued at approximately $45,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Medici sold 700 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $51.05, for a total value of $35,735.00. Following the completion of the sale, the director now directly owns 6,381 shares in the company, valued at approximately $325,750.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,743,212 shares of company stock worth $91,145,351. Insiders own 19.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in HQY. Zions Bancorporation purchased a new position in shares of Healthequity during the 3rd quarter valued at about $119,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Healthequity by 105.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock valued at $127,000 after buying an additional 1,308 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Healthequity by 75.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,629 shares of the company’s stock valued at $131,000 after buying an additional 1,129 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Healthequity by 7.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,686 shares of the company’s stock valued at $134,000 after buying an additional 191 shares in the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new position in shares of Healthequity during the 2nd quarter valued at about $138,000. 98.60% of the stock is currently owned by institutional investors.

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About Healthequity

HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.

Analyst Recommendations for Healthequity (NASDAQ:HQY)

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