As of Thursday, HealthEquity Inc.’s (NASDAQ:HQY) stock closed at $73.50, up from $71.85 the previous day. While HealthEquity Inc. has overperformed by 2.30%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, HQY rose by 18.17%, with highs and lows ranging from $73.54 to $36.81, whereas the simple moving average jumped by 25.66% in the last 200 days.
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On September 16, 2022, KeyBanc Capital Markets started tracking HealthEquity Inc. (NASDAQ: HQY) recommending Overweight. A report published by Goldman on July 12, 2022, Initiated its previous ‘Sell’ rating for HQY. Wells Fargo also rated HQY shares as ‘Overweight’, setting a target price of $95 on the company’s shares in an initiating report dated April 11, 2022. Guggenheim Initiated an Buy rating on April 07, 2022, and assigned a price target of $89. BTIG Research March 30, 2022d its ‘Neutral’ rating to ‘Buy’ for HQY, as published in its report on March 30, 2022. Raymond James’s report from December 07, 2021 suggests a price prediction of $70 for HQY shares, giving the stock a ‘Outperform’ rating. Jefferies also rated the stock as ‘Buy’.
Analysis of HealthEquity Inc. (HQY)
Further, the quarter-over-quarter increase in sales is 9.00%, showing a positive trend in the upcoming months.
One of the most important indicators of HealthEquity Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -3.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.50, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and HQY is recording 735.50K average volume. On a monthly basis, the volatility of the stock is set at 3.96%, whereas on a weekly basis, it is put at 3.46%, with a gain of 1.23% over the past seven days. Furthermore, long-term investors anticipate a median target price of $78.43, showing growth from the present price of $73.50, which can serve as yet another indication of whether HQY is worth investing in or should be passed over.
How Do You Analyze HealthEquity Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.00%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in HQY shares?
The recent increase in stakes in HQY appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in HQY has increased by 2.79% in the first quarter. The company now owns 8,643,794 shares of the stock, with a value of $571.18 million, following the purchase of 234,357 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in HQY during the first quarter, upping its stake by 1.91%. During the last quarter, the company dropped down 148,274 additional shares for a total stake of worth $523.76 million, bringing number of shares owned by the company to 7,926,137.
During the first quarter, Wasatch Advisors, Inc. subtracted a -1,010,184 position in HQY. Fidelity Management & Research Co purchased an additional 0.17 million shares in the last quarter, increasing its holdings by 5.26%, now holding 3.39 million shares worth $223.72 million. At the end of the first quarter, William Blair Investment Manageme decreased its HQY holdings by -13.66% and now holds 2.7 million HQY shares valued at $178.3 million with the lessened -0.43 million shares during the period.