By Sabela Ojea
Shares of HealthEquity dropped after the company's outlook for the next fiscal year missed Wall Street expectations.
The stock was down 6% to $94.89 in post-market trading. Through Monday's close, shares have surged 52% year to date.
The Draper, Utah.-based health-savings account custodian said for its next fiscal year it expects revenue between $1.28 billion and nearly $1.3 billion. Analysts polled by FactSet expected higher revenue of $1.32 billion.
HealthEquity had, however, also raised its outlook for the current year after posting third-quarter results that topped Wall Street estimates, aided by increases in user accounts and assets held in them.
The company had about 9.5 million health savings accounts at the end of October, up 15% from a year ago. Total assets in those HSA are up 33% to $30 billion.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
December 09, 2024 18:51 ET (23:51 GMT)
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