HealthEquity: This Financial Powerhouse Is Poised To Compound Wealth (Upgrade)

HealthEquity is upgraded from 'Hold' to 'Buy,' reflecting visible operating leverage and durable growth drivers. HQY's fiscal Q4 2026 saw 7% revenue growth, 500+ bps margin expansion, and 23% adjusted EBITDA growth, signaling an earnings inflection. Structural tailwinds include expanded HSA eligibility, rising engagement, and a shift toward higher-value, compounding accounts.