HealthEquity, Inc (HQY) PT Raised to $60 at Cantor Fitzgerald

Cantor Fitzgerald raised its price target on HealthEquity, Inc (NASDAQ: HQY) to $60.00 (from $56.00) while maintaining a Overweight rating.

Analyst Steven Halper commented, "We reiterate our Overweight rating on HQY shares and increase our 12-month price target to $60 from $56. After the market close on Tuesday, February 6, HQY announced HSA member and custodial assets metrics for fiscal year ended January 31, 2018. The number of HSA members on the company's platform increased by 24%, while total custodial assets grew by 35% y/y. The number of members with investment assets continued to grow. HSA member retention remained very high. HQY reaffirmed its previously announced fiscal 2018 guidance. The company also provided FY2019 revenue outlook. The midpoint of the range was slightly below our estimate and FactSet consensus. Our revised revenue estimate reflects 22.9% growth, which we still find impressive."

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