Why HealthEquity Inc. (HQY) stock underperformed on Friday?

HealthEquity Inc. (HQY) shares declined 8.60% in after-hours on Friday, August 13, 2021, and closed the weekly trading at $62.56 per share. In the regular trading session of Friday, HQY’s stock lost 1.18%. HQY shares have risen 17.15% over the last 12 months, and they have moved down 6.45% in the past week. Over the past three months, the stock has lost 8.03%, while over the past six months, it has slid down 19.59%.

Let’s see is there any recent development behind its loss?

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HQY upcoming financial results announcement

HealthEquity, Inc (HQY) will announce its second quarter of fiscal 2022 financial results following the close of regular stock market trading hours on Wednesday, September 8, 2021. HealthEquity management plans to host a conference call for investors on Wednesday, September 8, 2021, at 4:30 p.m. ET during which management will review highlights from the Company’s second-quarter results.

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HQY CEO commendation

On June 22, 2021, HealthEquity, Inc. (HQY), CEO Jon Kessler was awarded a Glassdoor Employees’ Choice Award honoring the Top CEOs in 2021.

Glassdoor recognizes outstanding employers and leaders throughout the world with the Employees’ Choice Awards every year. Kessler has been recognized as a leading CEO in the U.S. with an approval rating of 94%, based entirely on anonymous employee feedback.

HQY Q1 2022 financial results announcement

On June 07, 2021, HealthEquity, Inc (HQY) announced financial results for its first quarter ended April 30, 2021.

Q1 2022 financial highlights

  • HQY reported revenue of 2 million in Q1 2022 compared to $190.0 million in Q1 2021.
  • It suffered a net loss of $2.6 million in Q1 2022 compared to a net income of $1.8 million in Q1 2021.
  • In Q1 2022, net loss per diluted share was $0.03, compared to net income per diluted share of $0.03 in Q1 2021.
  • Adjusted EBITDA was $59.0 million in Q1 2022 compared to $63.0 million in Q1 2021.

FY 2022 financial guidance

For FY 2022, HQY is expecting

  • Revenue in the range of $755 million to $765 million
  • Net loss in the range of $0.23 to $0.18 per diluted share.
  • Non-GAAP net income in the range of $122 million and $126 million.
  • Adjusted EBITDA in the range of $241 million to $247 million.

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Conclusion

HQY stock plummeting on Friday has no ground at all. Its negative performance on Fridays is difficult to explain. We hope that it will return towards positivity on Monday.

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