HQY · NASDAQ · STOCK
HealthEquity (HQY) Stock Analysis
$92.62
52W $72.76 – $107.62
61/100
$7.74B
33.1
0.24
⚠
Buy rating, but near-term risk/reward is unfavorable
The long-term recommendation is based on the composite investment score. The near-term risk/reward is based on nearby support and resistance levels. These can differ when a strong company trades close to resistance with support further below.
Is HQY Bullish or Bearish?
Bullish.
Innellis AI committee rates HealthEquity (HQY) Buy with a composite score of 61/100
, based on 5 analysts with 60% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +13.67 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -6.33 from today. The band boundary is 60.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The primary driver is news sentiment is positive (+0.33 across 3 articles, 14d). The main limiting factor is sector concentration is already high (hhi 2796.97). The committee is constructive but not yet at full conviction.
Bull & Bear Case
Bull Case
- EPS growing 67.5% YoY — Growth
- 5 consecutive earnings beats -- consistent execution — Growth
- MACD histogram positive -- bullish momentum — Technical
- News sentiment is positive (+0.33 across 3 articles, 14d) — News
Bear Case
- P/E of 32.5 is moderate-to-rich — Value
- Growth rate is decelerating quarter over quarter -- the trend line matters more than the level — Growth
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
61/100
Agreement
60%
Analysts
5
Conviction
Moderate
Sector Rank
Top 25%
of 192 Healthcare peers
Value Analyst
neutral
55
/ 100 · Moderate confidence
Fair value -- neither a bargain nor obviously overpriced
− P/E of 32.5 is moderate-to-rich
Growth Analyst
bullish
60
/ 100 · High confidence
Strong, accelerating growth with consistent execution
+ EPS growing 67.5% YoY
− Growth rate is decelerating quarter over quarter -- the trend line matters more than the level
Technical Analyst
neutral
58
/ 100 · High confidence
Mixed or range-bound price action
+ MACD histogram positive -- bullish momentum
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
bullish
68
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
+ News sentiment is positive (+0.33 across 3 articles, 14d)
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 61.3 to 61.3.
- New bearish signals: 1 appeared.
- Bearish pressure eased: 1 signal(s) disappeared.
Analyst-level changes:
- Value Analyst: +1 bearish signal(s).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
58.2
Neutral
MACD Histogram
0.629
Bullish Momentum
Trend Direction
Sideways
Weekly: Uptrend
Market Structure
Hh Hl
Support
$90.36
Resistance
$93.31
Bollinger %B
0.57
Inside Bands
Price vs Moving Averages
EMA 9
$91.48
Above
EMA 21
$92.33
Above
EMA 50
$94.28
Below
EMA 200
$92.01
Above
Fundamental Analysis
Valuation
64
Growth
69
Profitability
75
Financial Health
100
Cash Flow
70
Valuation
P/E Ratio
33.1×
P/B Ratio
3.88×
PEG Ratio
0.50
Dividend Yield
0.00%
52W High
$107.62
52W Low
$72.76
Quality & Growth
ROE
1021.3%
ROA
627.0%
Gross Margin
7521.2%
Operating Margin
2561.2%
Revenue Growth YoY
—
Debt / Equity
0.49
AI Fundamental Assessment
P/E ratio of 33.1 (rich relative to a 15-40x range); Price-to-book of 3.9x; PEG ratio of 0.5 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 10.2%; Return on assets of 6.3%; Net margin of 17.4%; Gross margin of 75.2%; Current ratio of 2.99 (healthy short-term liquidity); Debt-to-equity of 0.49; Free cash flow per share is positive (5.66); Most recent quarter beat estimates by 2.9%; 5 consecutive earnings beats; EPS growth decelerating (+30.5% -> +0.0% QoQ); Average YoY EPS growth of 14.8%; Analyst estimates rising over recent quarters
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