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Looking for a Growth Stock? Why It is Time to Focus on HealthEquity (HQY)

Zacks Equity Research
Updated

Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. However, they can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.

One such company that might be well-positioned for future earnings growth is HealthEquity, Inc. HQY. This firm, which is in the Medical Services industry, saw EPS growth of 22.7% last year, and is looking great for this year too.

In fact, the current growth estimate for this year calls for a significant earnings-per-share growth. Furthermore, the long-term growth rate is currently an impressive 33.3%, suggesting pretty good prospects for the long haul.

HealthEquity, Inc. Price and Consensus

HealthEquity, Inc. Price and Consensus | HealthEquity, Inc. Quote

And if this wasn’t enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 4.8%. Thanks to this rise in earnings estimates, HQY has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

So, if you are looking for a fast-growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider HQY. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for HQY as well.

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>


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HealthEquity, Inc. (HQY) : Free Stock Analysis Report
 
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Zacks Investment Research