HealthEquity (NASDAQ:HQY) Issues FY23 Earnings Guidance

HealthEquity (NASDAQ:HQY – Get Rating) issued an update on its FY23 earnings guidance on Monday morning. The company provided EPS guidance of $1.23-1.32 for the period, compared to the consensus EPS estimate of $1.27. The company issued revenue guidance of $827-837 million, compared to the consensus revenue estimate of $826.17 million.HealthEquity also updated its FY 2023 guidance to $1.23-$1.32 EPS.

NASDAQ:HQY traded down $1.61 during trading hours on Monday, hitting $62.45. The company’s stock had a trading volume of 878,733 shares, compared to its average volume of 721,059. The stock has a fifty day moving average of $63.70 and a 200-day moving average of $55.95. The stock has a market capitalization of $5.27 billion, a P/E ratio of -117.83, a price-to-earnings-growth ratio of 5.55 and a beta of 1.08. HealthEquity has a 52-week low of $36.81 and a 52-week high of $84.71. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.50.

HealthEquity (NASDAQ:HQY – Get Rating) last issued its quarterly earnings data on Tuesday, March 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $203.30 million for the quarter, compared to analyst estimates of $199.27 million. HealthEquity had a positive return on equity of 3.49% and a negative net margin of 5.85%. During the same quarter last year, the company posted $0.30 earnings per share. On average, sell-side analysts forecast that HealthEquity will post 0.6 earnings per share for the current year.

HQY has been the topic of several analyst reports. StockNews.com downgraded HealthEquity from a hold rating to a sell rating in a research note on Sunday, March 27th. Barrington Research lifted their target price on HealthEquity from $55.00 to $70.00 in a research note on Wednesday, March 23rd. Zacks Investment Research upgraded HealthEquity from a strong sell rating to a buy rating and set a $58.00 target price on the stock in a research note on Tuesday, February 8th. TheStreet upgraded HealthEquity from a d+ rating to a c- rating in a research note on Wednesday, April 6th. Finally, Jefferies Financial Group lifted their target price on HealthEquity from $62.00 to $80.00 and gave the company a buy rating in a research note on Monday, March 28th. One analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Buy and an average target price of $76.71.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HQY. BlackRock Inc. grew its position in shares of HealthEquity by 4.0% in the first quarter. BlackRock Inc. now owns 9,423,008 shares of the company’s stock valued at $635,488,000 after purchasing an additional 358,743 shares during the period. Wasatch Advisors Inc. grew its position in shares of HealthEquity by 3.3% in the first quarter. Wasatch Advisors Inc. now owns 7,638,935 shares of the company’s stock valued at $515,170,000 after purchasing an additional 244,868 shares during the period. State Street Corp grew its position in shares of HealthEquity by 2.6% in the first quarter. State Street Corp now owns 2,642,658 shares of the company’s stock valued at $178,221,000 after purchasing an additional 68,071 shares during the period. Northern Trust Corp grew its position in shares of HealthEquity by 9.8% in the first quarter. Northern Trust Corp now owns 1,290,121 shares of the company’s stock valued at $87,006,000 after purchasing an additional 115,178 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of HealthEquity by 4.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 848,907 shares of the company’s stock valued at $57,251,000 after purchasing an additional 34,713 shares during the period. 97.44% of the stock is owned by institutional investors.

HealthEquity Company Profile (Get Rating)

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.

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