HealthEquity, Inc. (HQY) Stock Price & Analysis

HealthEquity, Inc. (HQY) closed at USD 100.97 on Thursday, October 22, 2026, up 3.16% on the day. The US market is currently closed (pre-market); this is not a live price.

The prior close was USD 97.88; the Oct 22, 2026 session ranged USD 97.66–101.09 on volume of 1,253,826 shares. Market capitalization is $8.35B, with a 52-week range of USD 72.76–107.62 (NMS). Source: Nexqual, retrieved October 23, 2026 at 10:37 UTC.

Also available as compact Markdown for AI agents: nexqual.com/HQY.md

Key facts (HQY)

• Last four reported quarters (through Jul 31, 2026): revenue $1.36B, net income $236M (17.4% margin), free cash flow $488M (SEC filings).
• Valuation: P/E 35.3x (avg 84.7x at the last 3 fiscal year-ends), EV/EBITDA 21.0x, net debt $675M.
• Insider open-market sales, last ~7 months: 7 Form 4 filings, $2.5M; 1 not under a Rule 10b5-1 plan ($13K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
• Insider open-market purchases, last ~7 months: 1 Form 4 filing, $12K; 0 by opportunistic insiders, 0 by routine insiders.
• Analysts: Buy (mean 1.67 on a 1–5 scale) (15 analysts), mean target USD 120.67 (range 108–142).
• Total return with dividends: 1Y +4.8% vs S&P 500 +14.9%; 5Y +49.4% vs S&P 500 +80.3%.
• Next earnings: 2026-08-27, EPS estimate USD 1.15, revenue estimate $347M.

Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (HQY)

Fiscal years end Jan. EPS is split-adjusted.

Valuation (price ÷ last four quarters, through Jul 31, 2026) (HQY)

P/E 35.3x · P/S 6.1x · EV/EBITDA 21.0x · EV/Sales 6.6x · P/FCF 17.1x · P/B 4.2x · FCF yield 5.84% · Earnings yield 2.83% · Buyback yield (TTM) 4.84% · Net debt $675M · EV $9.03B

P/E at fiscal year-ends: Jan 2026 34.8x, Jan 2025 101.4x, Jan 2024 118.0x.

Insider sales (SEC Form 4, open-market, last ~7 months) (HQY)

6 of 7 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.

% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).

Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

Insider purchases (SEC Form 4, open-market, last ~7 months) (HQY)

1 purchase, $12K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.

Analysts (HQY)

Consensus Buy (mean 1.67 on a 1–5 scale), 15 analysts; mean target USD 120.67 (low 108, high 142).

Rating changes, last 120 days:

Total return (dividends reinvested) (HQY)

HQY revenue by product line (quarter ended Jul 31, 2026)

As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).

HQY suppliers, customers and competitors (named in its 10-K)

Quoted from the company's 10-K filed Mar 17, 2026.

HQY analyst estimates and revisions

HQY options: expected move

30-day implied volatility 29.6% vs 25% realized over the last 30 trading days. Put/call ratio (volume) 0.08. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.

Key Statistics (as of October 23, 2026 at 10:37 UTC)

Technical Analysis (HQY)

Nexqual's technical model rates HQY "BUY" based on 5 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 10:37 UTC.

Analyst Ratings (HQY)

Wall Street analysts rate HQY "Buy" based on 15 analysts, with a mean price target of USD 120.67 (range USD 108–142), per Nexqual as of October 23, 2026 at 10:37 UTC.

Earnings (HQY)

Recent Earnings History

Source: Nexqual, October 23, 2026 at 10:37 UTC.

Financials & Fundamentals (HQY)

Source: Nexqual, October 23, 2026 at 10:37 UTC.

Financial Health Score (HQY)

Nexqual rates HealthEquity, Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 10:37 UTC.

Ownership (HQY)

Source: Nexqual, October 23, 2026 at 10:37 UTC.

Leadership (HQY)

HealthEquity, Inc. is led by Scott R. Cutler, CEO, President & Director, per Nexqual as of October 23, 2026 at 10:37 UTC.

Major Backers & Investors (HQY)

Notable institutional backers of HealthEquity, Inc. include Wasatch Advisors LP, Morgan Stanley, WASATCH FUNDS TRUST-Wasatch Core Growth Fund, according to Nexqual as of October 23, 2026 at 10:37 UTC.

Active Investors

Index Funds (Passive)

Source: Nexqual, October 23, 2026 at 10:37 UTC.

From HealthEquity, Inc.'s Latest SEC 10-K Filing (filed 2026-03-17)

Key Strengths & Strategy (as disclosed to the SEC)

• Our proprietary technology allows us to help consumers optimize the value of their HSAs and other CDBs and gain confidence and skills in managing their healthcare costs as part of their financial security.
• Our leadership position is evidenced by the increase in our market share (measured by HSA Assets), from 4% in December 2010 to 20% in June 2025, as reported in the 2025 Midyear Devenir HSA Research Report, which stated that we were the largest HSA provider by number of accounts and the second largest HSA provider by HSA Assets.
• Our proprietary technology is deployed as a cloud-based solution that is accessible to customers online and through our mobile app.
• In the provision of HSA custodial services and directed third-party administration services for FSAs and HRAs, we are subject to the Financial Services Modernization Act of 1999 (Gramm-Leach-Bliley Act or GLBA), the Health Insurance Portability and Accountability Act of 1996 (HIPAA, as amended by the Health Information Technology for Economic and Clinical Health Act), and similar state laws.

Partnerships

• As part of our services, we provide consumers with payment processing services, personalized benefit information, access to healthcare solutions through our marketplace, and investment advice to grow their tax-advantaged healthcare savings.
• As an SEC-registered investment adviser, it must comply with the requirements of the Investment Advisers Act of 1940, or the Advisers Act, and related Securities and Exchange Commission, or SEC, regulations and is subject to periodic inspections by the SEC staff.

Legal & Regulatory Risks (Item 1A, quoted)

• The healthcare regulatory and political framework is uncertain and evolving, and we cannot predict the effect that further healthcare reform and other changes in government programs may have on our business, financial condition, or results of operations.
• Changes in applicable federal and state laws relating to HSAs and other CDBs could materially adversely affect our business.
• We are subject to privacy regulations, including regarding the access, use, and disclosure of personal information, and the privacy breaches that we or our third-party service providers have experienced or may experience in the future could result in substantial financial and reputational harm, including possible criminal and civil penalties.
• We are subject to U.S. federal and state income, payroll, property, sales and use, and other types of taxes in numerous jurisdictions. Significant judgment is required in determining our provisions for income taxes. Changes in tax rates, enactments of new tax laws, revisions of tax regulations, and claims or litigation with taxing authorities could result in substantially higher taxes.

Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.

Peers & Related Stocks

Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:37 UTC. This page is informational and not investment advice.

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