Raymond James Sticks to Their Buy Rating for Healthequity (HQY)

By Carrie Williams

Raymond James analyst Charles Peters maintained a Buy rating on Healthequity (HQYResearch Report) yesterday. The company’s shares closed last Tuesday at $59.52.

According to TipRanks.com, Peters is a 5-star analyst with an average return of 9.4% and a 67.8% success rate. Peters covers the Financial sector, focusing on stocks such as American Equity Investment Life, Hallmark Financial Services, and Marsh & Mclennan Companies.

Healthequity has an analyst consensus of Moderate Buy, with a price target consensus of $65.00, implying a 12.9% upside from current levels. In a report released yesterday, Barrington also reiterated a Buy rating on the stock with a $65.00 price target.

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Based on Healthequity’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $190 million and net profit of $1.83 million. In comparison, last year the company earned revenue of $87.05 million and had a net profit of $41.82 million.

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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. Its services include HAS, FSA, HRA, DCRA, 401(k), Commuter, COBRA and HIA. It also offers products like 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.