HealthEquity (HQY) Stock Overview
Provides technology-enabled services platforms to consumers and employers in the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 5/6 |
| Dividends | 0/6 |
HQY Community Fair Values
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Analyst Price Targets
HealthEquity, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$92.66 |
| 52 Week High | US$107.62 |
| 52 Week Low | US$72.76 |
| Beta | 0.23 |
| 1 Month Change | -13.23% |
| 3 Month Change | 4.16% |
| 1 Year Change | 1.26% |
| 3 Year Change | 32.11% |
| 5 Year Change | 50.99% |
| Change since IPO | 426.48% |
Recent News & Updates
Recent updates
Seeking Alpha • Jul 27
HealthEquity's Earnings Momentum Deserves More Credit
Summary HealthEquity is the leading HSA and CDB administrator, consistently beating revenue and EPS expectations with strong operational execution. HQY's fiscal 2027 revenue is guided to $1.41–$1.42 billion, with robust HSA asset growth, margin expansion, and accelerating buybacks supporting a Buy rating. Custodial yield remains resilient at 3.84%, supported by rate locks through 2029, while automation and AI investments drive significant cost efficiencies. Valuation at 20x forward earnings and 13.7x EV/EBITDA appears conservative given visible growth, margin leverage, and capital return momentum. Read the full article on Seeking Alpha
Narrative Update • Jun 22
HQY: AI Efficiencies And Buybacks Will Support Future Margin Expansion
HealthEquity's updated analyst price target edges higher by about $1 to $2 as analysts point to solid recent results, operational leverage from AI and service cost discipline, and a more constructive view on margin potential, even as growth and margin forecasts in the model remain slightly tempered. Analyst Commentary Recent Street research on HealthEquity reflects a generally constructive stance, with several bullish analysts adjusting price targets higher after the latest quarterly update and commentary around growth, margins, and competitive positioning.Narrative Update • Jun 06
HQY: HSA Scale And AI Efficiencies Will Sustain Margins And Cash Returns
Analysts have nudged their fair value estimate for HealthEquity up to $114.63 from $112.88. This reflects a series of higher price targets that cite solid recent results, operational leverage and a stronger pipeline as key supports for margins and growth assumptions.Narrative Update • Apr 24
HQY: HSA Scale And Cash Yields Will Support Margins Despite AI Concerns
Analysts have reset HealthEquity's price targets lower by up to $15 while keeping a largely constructive view on its HSA growth potential and downplaying near term competitive and AI disruption risks. This has prompted only incremental tweaks to fair value and P/E assumptions rather than a wholesale shift in the outlook.Narrative Update • Apr 10
HQY: HSA Scale And Cash Yields Will Support Margins Despite AI Fears
Analysts have inched their average price target for HealthEquity higher to about $113, a modest move that reflects updated views on long term revenue growth, profit margins and future P/E assumptions following a mix of recent target cuts and at least one upgrade. Analyst Commentary Recent research on HealthEquity shows a mix of optimism about the long term HSA opportunity and caution around valuation, competitive threats and sector specific risks such as AI disruption concerns.Narrative Update • Mar 27
HQY: HSA Scale And Cash Yields Will Drive Margins And Support Upside
Narrative Update on HealthEquity Analysts have trimmed the blended price target on HealthEquity by a few dollars to around $112, reflecting slightly softer modeled revenue growth and a lower future P/E multiple, while also highlighting resilient HSA account and asset trends and noting potential for margin improvement. Analyst Commentary Recent Street research on HealthEquity shows a mixed but generally constructive view, with several firms trimming price targets while still pointing to solid operational trends and specific growth drivers, alongside a smaller group calling out valuation and multiple risk.Narrative Update • Mar 11
HQY: Cash Yields And HSA Scale Will Support The Next Leg
Analysts have trimmed their targets on HealthEquity by about $10 to $30 per share, reflecting valuation compression and AI related sector pressures. They also cite solid HSA account and asset growth, cost efficiencies, and an updated cash maturity schedule that they believe supports the company’s medium term growth profile.Narrative Update • Feb 25
HQY: Future HSA Expansion And Cash Yields Will Support Next Leg Of Growth
Analysts have nudged our fair value estimate for HealthEquity lower to $114.44 from $119.13, reflecting reduced price targets across the Street as they factor in recent peer valuation compression, AI related sentiment, and updated expectations for cash yields and HSA growth. Analyst Commentary Street research on HealthEquity has turned more cautious on valuation while still highlighting a mix of supportive and more skeptical views on the company’s execution and growth outlook.Narrative Update • Feb 10
HQY: Future HSA Market Expansion Will Support Next Leg Of Growth
Analysts now frame HealthEquity within a wider US$89 to US$125 price target range, reflecting mixed views on valuation, as some highlight pressure on the stock's multiple until clearer growth drivers emerge, while others see momentum continuing despite lingering competition and regulatory concerns. Analyst Commentary Bullish Takeaways Bullish analysts highlight a “year of inflection” for several healthcare IT names, with estimates and valuations for the group described as having largely bottomed, which they see as supportive for HealthEquity’s current positioning.Narrative Update • Jan 27
HQY: Future HSA Member Expansion Will Benefit From Next Leg Of Growth
Analysts have trimmed their fair value estimate for HealthEquity by about $1 to $119.13 as some now highlight pressure on valuation multiples and organic growth expectations, while others still see room for upside tied to a potential next leg of growth once uncertainties around competition, regulation and rates settle. Analyst Commentary Street research on HealthEquity is mixed, with some firms becoming more cautious on valuation and others still pointing to upside if the next leg of growth materializes.Narrative Update • Jan 12
HQY: Future HSA Member Expansion Will Drive Long Term Opportunity
Narrative Update on HealthEquity The analyst price target for HealthEquity has moved slightly lower to about $120 from roughly $122. Analysts are balancing concerns about valuation multiples and competition against steady expectations for organic growth and profitability.Analysis Article • Jan 01
Here's Why We Think HealthEquity (NASDAQ:HQY) Might Deserve Your Attention Today
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...Seeking Alpha • Mar 17
HealthEquity: Robust Growth, But No Margin Of Safety
Summary HealthEquity (NASDAQ:HQY) is down nearly 15% in the past month, presenting a potential buying opportunity. The company recently beat Q3'25 earnings expectations in both EPS and revenue. HQY offers CDBs such as HSAs, which have seen rapid growth over the past decade, and are expected to keep growing into the future. The company has a robust 10Y revenue CAGR of 36.20%, FCF sitting higher than its net income, and a healthy Balance sheet, showing great potential. Read the full article on Seeking AlphaSeeking Alpha • Nov 20
HealthEquity: High Marks For Recent Profit Growth
Summary HealthEquity's future growth relies heavily on capital reinvestment due to the asset-light nature of the business. High multiples of capital are necessary to ensure each $1 of retained and reinvested earnings is valued highly by the market. The core asset base has hard-to-replicate business advantages that have grown operating earnings at attractive rates which by all means can continue. Read the full article on Seeking Alpha
New Narrative • Sep 24
Expanding HSA Market Dominance Fuels Revenue And Innovates Healthcare Financial Services
HealthEquity's expansion in the HSA market and strategic acquisitions, including BenefitWallet, aim to grow its customer base and custodial revenue.Seeking Alpha • Aug 27
HealthEquity: Compelling Catalysts, Fairly Valued, Reiterate Buy
Summary HealthEquity continues to present highly attractive fundamentals. FY'25 is guidance raised to ~$1.18Bn in revenue and ~$3.10/share in earnings. Technicals are robust on longer-term time frames, with price structure strengthening after demand-fill at ~$55-$60s. Valuation is fair at ~17x NOPAT in my view, with base assumptions suggesting ~9-10% CAGR to ~$92-$100/share by FY'26E. Read the full article on Seeking AlphaShareholder Returns
| HQY | US Healthcare | US Market | |
|---|---|---|---|
| 7D | -6.0% | -0.04% | 0.9% |
| 1Y | 1.3% | 18.3% | 15.5% |
Return vs Industry: HQY underperformed the US Healthcare industry which returned 18.3% over the past year.
Return vs Market: HQY underperformed the US Market which returned 15.5% over the past year.
Price Volatility
| HQY volatility | |
|---|---|
| HQY Average Weekly Movement | 5.2% |
| Healthcare Industry Average Movement | 7.1% |
| Market Average Movement | 6.9% |
| 10% most volatile stocks in US Market | 15.6% |
| 10% least volatile stocks in US Market | 3.0% |
Stable Share Price: HQY has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: HQY's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2002 | 2,814 | Scott Cutler | www.healthequity.com |
HealthEquity, Inc. provides technology-enabled services platforms to consumers and employers in the United States. It offers health savings accounts (HAS); investment platform; online-only automated investment advisory services through Advisor, a Web-based tool. The company also provides flexible spending accounts (FSA) for health and dependent care; health reimbursement arrangements; and Consolidated Omnibus Budget Reconciliation Act continuation services, as well as administers pre-tax commuter benefit programs.
HealthEquity, Inc. Fundamentals Summary
| HQY fundamental statistics | |
|---|---|
| Market cap | US$7.72b |
| Earnings (TTM) | US$236.49m |
| Revenue (TTM) | US$1.36b |
32.4x
P/E Ratio5.6x
P/S RatioIs HQY overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| HQY income statement (TTM) | |
|---|---|
| Revenue | US$1.36b |
| Cost of Revenue | US$391.65m |
| Gross Profit | US$970.48m |
| Other Expenses | US$733.98m |
| Earnings | US$236.49m |
Last Reported Earnings
Jul 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 2.86 |
| Gross Margin | 71.25% |
| Net Profit Margin | 17.36% |
| Debt/Equity Ratio | 46.8% |
How did HQY perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/09 21:49 |
| End of Day Share Price | 2026/09/09 00:00 |
| Earnings | 2026/07/31 |
| Annual Earnings | 2026/01/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
HealthEquity, Inc. is covered by 22 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Mark Marcon | Baird |
| Peter Warendorf | Barclays |
| Alexander Paris | Barrington Research Associates, Inc. |