HealthEquity Inc (HQY)

Over the past six months, HealthEquity's stock price has experienced several notable events. In Q2 Fiscal 2026, the company reported strong results with revenue and earnings beats, increased adjusted EBITDA and net income, and repurchased $66 million worth of stock. In Q3 Fiscal 2026, HealthEquity reported a record third quarter with increased revenue and net income per diluted share, grew total HSA assets, and returned $93.7 million to shareholders through stock repurchases. Analyst ratings varied, with some firms raising price objectives and maintaining positive ratings, while others downgraded the stock. Several insiders have sold shares of HQY stock. HealthEquity announced its initial outlook for the fiscal year ending January 31, 2027, projecting revenues between $1.38 billion and $1.41 billion, and reaffirmed its previously provided guidance for fiscal year 2026. HealthEquity's stock fell 6.5% during trading on Monday, January 12, 2026.

While specific detailed information on demand seasonality for all HealthEquity products and services is not extensively provided, there are indications of seasonal patterns. The company is in a seasonally weak time of year for its stock. The company is entering onboarding season with strong momentum, suggesting a period of increased activity for new account setups and benefit enrollments. Demand for HealthEquity's services may see an uptick during certain periods, likely aligning with annual enrollment periods for health plans and employer benefits.

HealthEquity, Inc. is a financial technology and business services company providing technology-enabled services platforms to consumers and employers in the United States. The company is an IRS-designated non-bank health savings trustee, acting as a custodian for health savings accounts (HSAs). HealthEquity operates in the Healthcare sector, specifically in Health Information Services, with some classifications in Finance or Software & IT Services. HealthEquity's major products and services include Health Savings Accounts (HSAs), an investment platform for HSA funds, automated investment advisory services, Consumer-Directed Benefits (CDBs), and pre-tax commuter benefit programs. As of October 31, 2025, HealthEquity managed 10.1 million HSAs and 7.2 million complementary CDBs, totaling 17.3 million accounts, with total HSA assets reaching $34.4 billion.

HealthEquity, Inc. is headquartered in Draper, Utah, United States. The company primarily generates its revenue and serves clients, including consumers and employers, within the United States.

HealthEquity's brand reputation in the past year has been impacted by a data breach in March 2024, which exposed the personal and health information of over 4 million patients. Despite this, the company has been actively working to enhance its reputation and build trust, modernizing the business, raising the bar on security, and accelerating the digital experience. HealthEquity is also advancing digital initiatives like agentic AI for member support and has launched GLP-1 telehealth and direct HSA enrollment offerings.

HealthEquity's ownership is predominantly institutional, with hedge funds and other institutional investors controlling 99.55% of total shares outstanding as of July 31, 2025. Major institutional owners include BlackRock, Inc., Vanguard Group Inc., Wasatch Advisors Inc./Lp., Fmr Llc., State Street Corp., Invesco Ltd., and Geode Capital Management, Llc. Notable individual and insider owners include Berkley Capital Investors LP, Financial Partners Fund I LP, Berkley Capital LLC, and company founder David Neeleman.