HealthEquity price target raised to $94 from $89 at Guggenheim

Guggenheim analyst Sandy Draper raised the firm’s price target on HealthEquity to $94 from $89 and keeps a Buy rating on the shares after the company reported "a strong quarter" in which it beat the firm’s estimates and consensus for revenue and EBITDA, raised revenue and EBITDA guidance for FY23 and issued FY24 guidance ahead of their typical schedule that was "well above" Draper’s estimates. The out-year guidance, while "impressive" and demonstrating confidence in the business’ momentum, is "still likely conservative," Draper said.