Deutsche Bank Maintains Healthequity (HQY) Buy Recommendation

Fintel reports that on September 7, 2023, Deutsche Bank maintained coverage of Healthequity (NASDAQ:HQY) with a Buy recommendation.

Analyst Price Forecast Suggests 16.94% Upside

As of August 31, 2023, the average one-year price target for Healthequity is 83.47. The forecasts range from a low of 71.71 to a high of $98.70. The average price target represents an increase of 16.94% from its latest reported closing price of 71.38.

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The projected annual revenue for Healthequity is 966MM, an increase of 3.01%. The projected annual non-GAAP EPS is 1.81.

What is the Fund Sentiment?

There are 770 funds or institutions reporting positions in Healthequity. This is a decrease of 10 owner(s) or 1.28% in the last quarter. Average portfolio weight of all funds dedicated to HQY is 0.34%, an increase of 1.99%. Total shares owned by institutions decreased in the last three months by 0.99% to 103,642K shares. The put/call ratio of HQY is 0.85, indicating a bullish outlook.

What are Other Shareholders Doing?

Wasatch Advisors holds 7,128K shares representing 8.34% ownership of the company. In it's prior filing, the firm reported owning 7,713K shares, representing a decrease of 8.20%. The firm decreased its portfolio allocation in HQY by 3.34% over the last quarter.

William Blair Investment Management holds 2,793K shares representing 3.27% ownership of the company. In it's prior filing, the firm reported owning 2,870K shares, representing a decrease of 2.77%. The firm decreased its portfolio allocation in HQY by 3.70% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,641K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 2,619K shares, representing an increase of 0.85%. The firm increased its portfolio allocation in HQY by 0.08% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 2,593K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 2,611K shares, representing a decrease of 0.71%. The firm increased its portfolio allocation in HQY by 2.29% over the last quarter.

Jpmorgan Chase holds 2,514K shares representing 2.94% ownership of the company. In it's prior filing, the firm reported owning 2,474K shares, representing an increase of 1.57%. The firm increased its portfolio allocation in HQY by 676.22% over the last quarter.

Healthequity Background Information
(This description is provided by the company.)

HealthEquity and its subsidiaries administer HSAs and other consumer-directed benefits for its more than 12 million accounts in partnership with employers, benefits advisors, and health and retirement plan providers who share its mission to connect health and wealth and value its culture of remarkable 'Purple' service.

Additional reading:

• HealthEquity Reports Second Quarter Ended July 31, 2023 Financial Results Delivers Record HSA Asset Growth, Margin Expansion
• Letter Agreement, dated June 30, 2023, between Tyson Murdock and the Company
• Employment Agreement, dated June 13, 2023, between James M. Lucania and the Company

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.