NEW YORK (TheStreet) -- Shares of HealthEquity (HQY) - Get Report are gaining by 5.74% to $29.19 on heavy trading volume late Wednesday afternoon, after the provider of services for managing healthcare accounts reported better-than-expected results for the 2017 fiscal first quarter.

After yesterday's market close, the Draper, UT-based company posted earnings of 15 cents per share, surpassing analysts' estimates of 13 cents per share.

Revenue soared by 47% to $44 million from last year and was above Wall Street's expectations of $41.9 million.

"We kicked off fiscal 2017 with a very strong first quarter. Once again, we saw acceleration in each of our key business metrics, revenue, adjusted EBITDA, HSAs, and assets under management, all while simultaneously expanding adjusted EBITDA margins to record levels," CEO Jon Kessler said in a statement.

About 1.02 million of the company's shares were traded so far today vs. its average volume of 260,423 shares per day.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.

This is driven by a few notable weaknesses, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.

Among the areas the team feels are negative, one of the most important has been premium valuation based on our review of its current price compared to such things as earnings and book value.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: HQY

Image placeholder title