HealthEquity To Capture More Market Share, Says Analyst In Overweight Rating Rationale
Portfolio Pulse from Nabaparna Bhattacharya
KeyBanc Capital Markets analyst Scott Schoenhaus reiterated an Overweight rating on HealthEquity, Inc. (NASDAQ:HQY) with an $85 price target. HealthEquity delivered better-than-expected Q1 earnings and revenues, and raised its FY24 revenue and Adj. EBITDA guidance. The analyst believes the company is well-positioned to grow revenue in the Health Savings Accounts markets and has a strong cash position.
June 06, 2023 | 6:59 pm
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HealthEquity's strong Q1 results and raised FY24 guidance led KeyBanc analyst to reiterate an Overweight rating with an $85 price target. The company is well-positioned to grow revenue in the Health Savings Accounts markets.
The analyst's Overweight rating and increased price target are based on HealthEquity's better-than-expected Q1 earnings and revenues, raised FY24 guidance, and growth potential in the Health Savings Accounts markets. This positive outlook is likely to have a short-term positive impact on the stock price.
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