HealthEquity price target raised to $107 from $105 at JMP Securities

JMP Securities raised the firm’s price target on HealthEquity (HQY) to $107 from $105 and keeps an Outperform rating on the shares. HealthEquity reported strong Q3 results that were above consensus on several metrics, with management signalling optimism that it could challenge its all-time high for single-year sales with one quarter remaining in FY25, driven by strong year to date performance in both upper and middle-market employer accounts, the analyst tells investors in a research note. The firm says its multiyear rate lift thesis appears intact, and that continued sales momentum, enhanced rate mix-shift, accretive capital deployment, and favorable regulatory and legislative action represent compelling sources of near-, intermediate- and long-term value creation.