HealthEquity, Inc. (HQY) Price Target Analysis
Updated Jun 18, 2026
Analyst Rating: Buy
Based on 27 analysts26.0% Below Target
HQY trades 26.0% below Wall Street's consensus target of $107.33.
Current Price$85.21
Average Target$107.33
Target
Current
Low$89.00
Median$108.00
High$125.00
Analyst Target Range
Forward P/E21.5x
(Fair)
PEG Ratio0.26
(Undervalued)
Implied Growth+45.8%
(High Growth)
Analyst Spread33.5%
(Moderate)
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Consensus Scenario Assumptions
The base valuation assumes HQY achieves its forward estimates and maintains a stable P/E multiple of 21.5x. This scenario reflects the blended consensus of 27 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
HQY Price Target Analysis
Updated June 22, 2026As of June 22, 2026, HealthEquity, Inc. (HQY) has a Wall Street consensus price target of $107.33, based on estimates from 27 covering analysts. With the stock currently trading at $85.21, this represents a potential upside of +26.0%. The company has a market capitalization of $7.12B.
Analyst price targets range from a low of $89.00 to a high of $125.00, representing a 34% spread in expectations. The median target of $108.00 aligns closely with the consensus average.
The current analyst consensus rating is Buy, with 25 analysts rating the stock as a Buy or Strong Buy,1 rating it Hold, and 1 rating it Sell or Strong Sell. This overwhelmingly bullish sentiment suggests analysts see significant catalysts for upside ahead.
From a valuation perspective, HQY trades at a trailing P/E of 34.6x and forward P/E of 21.5x. The forward PEG ratio of 0.26 suggests the stock may be undervalued relative to its growth. Analysts expect EPS to grow +45.8% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $130.62, with bear and bull scenarios of $82.29 and $172.10 respectively. Model confidence stands at 58/100, reflecting moderate uncertainty in projections.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Healthcare stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside
+28.8%
Industry Consensus
Avg Forward P/E
15.3x
(Fair)
Peers with Coverage
10 / 10
Active Analyst Tracking
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 WEXWEX Inc. | $4.4B | $127.53 | $175.14 | +37.3% | Hold | 6.6x | 32 |
 BENFranklin Resources, Inc. | $17.2B | $33.05 | $32.00 | -3.2% | Hold | 12.1x | 27 |
 INVAInnoviva, Inc. | $1.7B | $22.49 | $37.00 | +64.5% | Buy | 6.3x | 10 |
 GWREGuidewire Software, Inc. | $9.0B | $107.86 | $207.13 | +92.0% | Buy | 31.0x | 26 |
 PCTYPaylocity Holding Corporation | $5.4B | $101.06 | $147.09 | +45.5% | Buy | 12.5x | 41 |
 PAYCPaycom Software, Inc. | $6.8B | $124.85 | $151.75 | +21.5% | Hold | 11.5x | 36 |
 ADPAutomatic Data Processing, Inc. | $87.9B | $218.41 | $243.63 | +11.5% | Hold | 19.7x | 36 |
 PAYXPaychex, Inc. | $35.3B | $98.24 | $105.60 | +7.5% | Hold | 17.9x | 30 |
 UNHUnitedHealth Group Incorporated | $363.9B | $400.96 | $425.81 | +6.2% | Buy | 21.8x | 52 |
 CVSCVS Health Corporation | $125.4B | $98.32 | $103.64 | +5.4% | Buy | 13.3x | 41 |
HQY — Frequently Asked Questions
Quick answers to the most common questions about buying HQY stock.
What is the HQY stock price target for 2026?
The consensus Wall Street price target for HQY is $107.33, representing 26.0% upside from the current price of $85.21. With 27 analysts covering the stock, this strong upside suggests significant value not yet reflected in today's share price.
Is HQY a buy, sell, or hold?
HQY has a consensus rating of "Buy" based on 27 Wall Street analysts. The rating breakdown is predominantly bullish, with 25 Buy/Strong Buy ratings. The consensus 12-month price target of $107.33 implies 26.0% upside from current levels.
Is HQY stock overvalued or undervalued?
HQY trades at a forward P/E of 21.54x, representing a moderate valuation. With analysts targeting $107.33 (26.0% implied move), the stock appears reasonably valued with upside.
How high can HQY stock go?
The most bullish Wall Street analyst has a price target of $125 for HQY, while the most conservative target is $89. The consensus of $107.33 represents the median expectation. Our quantitative valuation model projects a bull case target of $172 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
How many analysts cover HQY stock?
HQY is heavily covered by Wall Street, with 27 analysts providing price targets and ratings. Of these, 1 have Strong Buy ratings, 24 have Buy ratings, 1 recommend Hold, and 1 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the HQY stock forecast?
The 12-month HQY stock forecast based on 27 Wall Street analysts shows a consensus price target of $107.33, with estimates ranging from $89 (bear case) to $125 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $131, with bear/bull scenarios of $82/$172.
What is HQY's fair value based on fundamentals?
Our quantitative valuation model calculates HQY's fair value at $131 (base case), with a bear case of $82 and bull case of $172. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 58/100.
What is HQY's forward P/E ratio?
HQY trades at a forward P/E ratio of 21.5x based on next-twelve-months earnings estimates compared to a trailing P/E of 34.6x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy HQY stock?
Wall Street analysts are very optimistic on HQY, with a "Buy" consensus rating and $107.33 price target (26.0% upside). 25 of 27 analysts rate it Buy or Strong Buy. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do HQY price targets vary so much?
HQY analyst price targets range from $89 to $125, a 34% moderate spread showing some variance in outlooks. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $107.33 consensus represents the middle ground. Our model's $82-$172 range provides an independent fundamental perspective.
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