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HealthEquity, Inc.
HQY
NASDAQ·Healthcare·Medical - Healthcare Information Services·Mkt cap $7.7B
$95.31
▲ +3.27%
View full research view
Our plain-language verdict, the thesis, risk factors, and what is changing about the business.
View research view52-Week Range
$72.76 - $105.96
P/E
Fwd P/E
Beta
Div Yield
Avg Vol
Shares Out
Mkt Cap
Price action
Price chart
Down 8.9% over the trailing year
Total returns
Price performance
Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.
Why we rate it this way
The thesis at a glance
Bull and bear case · plain-English context across the five lenses we evaluate.
Bull Case
4 reasons
- Market-leading HSA platform with millions of active users and deep integration with employer benefits ecosystems
- Proprietary cloud-based technology enabling seamless account management, price transparency, and personalized health insights
- Diversified revenue streams from account administration fees, investment advisory services, and data analytics reducing dependency on single revenue source
- Strong network effects through relationships with health plans, benefits brokers, employers, and retirement plan record-keepers creating switching costs
Bear Case
1 risk
- Low volatility (beta 0.2).
Growth
Stable outlook
Steady revenue growth (9% YoY)
Value
Fairly valued vs Healthcare IT & Services peers
Momentum
Strong
+9.0% over 3m
Quality
Excellent
Excellent business quality
Dividend
None
No dividend
Smart-money signal
Who's buying HQY right now
Insider Form 4s, 13F institutional filings, and Congressional disclosures - at a glance.
Earnings track record
Latest print - beat on both lines
AI-summarized recap of last quarter, plus the surprise on every print.
Next: Sep 1, 2026
MAY 28, 2026
Reported EPS of $1.24 vs $1.11 consensus (+11.7% surprise). Revenue of $354.6M vs $352.0M expected (+0.8%). Beat on both top and bottom lines.
EPS surprise · last 4Q
1 of 1 beats
Q2 26
+11.7%
Next: Sep 1, 2026
Revenue trend · last 8Q
—
—
—
+19%
+15%
+9%
+7%
+7%
Q1 24
Q2 24
Q3 24
Q4 25
Q1 25
Q2 25
Q3 25
Q4 26
$287.6M
$299.9M
$300.4M
$311.8M
$330.8M
$325.8M
$322.2M
$334.6M
Margins · last 8Q
Gross
92.4%
Operating
20.1%
Profit
14.9%
Wall Street consensus
9 analysts · 89% Buy
Live ratings and price targets aggregated across covering analysts.
Buy
89%
Hold
0%
Sell
11%
Median Price Target
$106.50
▲ +11.7% vs $95.31
Latest: RBC Capital · $108.00 · Jun 3, 2026
2 analysts covering