HealthEquity Shares Dropped 23% Following Q3 Results
<p><a href='https://financialmodelingprep.com/financial-summary/HQY'>HealthEquity, Inc. (NASDAQ:HQY) </a>shares were trading more than 23% lower Tuesday morning, following the company’s reported Q3 results, with revenues coming in at $180 million, below the consensus estimate of $184 million. This was driven primarily by weakness in service revenue as the number of CDBs declined sequentially across FSAs, commuter, and COBRA.</p>
<p>In addition, the company provided a downward guidance revision, which likely caught most people by surprise, however, the strength in the core HSA business appears to be continuing into year-end. </p>
<p>According to the analysts at RBC Capital, the significant share price drop following the “by no means great quarter” is a pretty strong over-reaction. </p>

NASDAQ:HQY