Healthequity (HQY) Receives a Buy from BTIG

In a report released yesterday, David Larsen from BTIG maintained a Buy rating on Healthequity (HQYResearch Report), with a price target of $85.00. The company’s shares closed yesterday at $63.44.

According to TipRanks, Larsen is an analyst with an average return of -8.5% and a 34.76% success rate. Larsen covers the Technology sector, focusing on stocks such as Omnicell, Health Catalyst, and Sharecare.

Healthequity has an analyst consensus of Moderate Buy, with a price target consensus of $75.00, a 18.22% upside from current levels. In a report released on September 2, Barrington also reiterated a Buy rating on the stock with a $75.00 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 $205.68 million and a GAAP net loss of $13.64 million. In comparison, last year the company earned a revenue of $184.2 million and had a GAAP net loss of $2.62 million

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HQY in relation to earlier this year.

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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.

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