HealthEquity (HQY) - Get Report will report fiscal fourth quarter 2016 earnings results after the closing bell Tuesday.

With its shares down about 11% year to date and falling 5.5% over the past year, HealthEquity stock hasn't delivered the gains investors expected. But the Draper, Utah-based company operates in a rapidly growing market called Health Savings Accounts. Its online platform allows consumers to compare treatment options to help them not only make informed health care decisions, but also educate them on tax implications. HealthEquity shares closed at $22.49 on Wednesday, up nearly 4%.

While its shares aren't cheap -- trading at a P/E of 88, compared to a P/E of 21 for the S&P 500 (SPX) -- investors would be better served to focus on the opportunities HealthEquity can capitalize on in the quarters and years ahead -- particularly in terms of the rising cost of health care that will drive more traffic to HealthEquity's platform. And that's a strong catalyst for a company that's already growing revenue at over 40%.

For the quarter that ended in January, the company is expected to earn 4 cents per share on revenue of $34.82 million, translating to flat earnings growth, while revenue is projected to rise 40%. For the full fiscal year, earnings are projected to soar 52% year-over-year to 32 cents per share, while revenue of $125.75 million would mark a year-over-year increase of 43%.

HealthEquity, which began trading as a public company in 2014, has beaten Wall Street's earnings estimates in all six reporting periods. And during that span, it has missed on revenue just one time. Aside from strong revenue and earnings growth, the company, having some $125 million in cash and zero debt, is well managed. Add in a solid return-on-equity ratio of 8.77%, which determines how well the company uses cash, you'll be hard-pressed to find a more stable company.

This combination of solid execution, fiscal awareness and market growth potential makes HealthEquity stock, which has risen more than 33% since it began trading publicly, tough to ignore. And it would seem analysts have it on their radar too.

Not only does HQY stock have a consensus buy rating, its average analyst 12-month price target of $30 suggests 32% gains from current levels. If the shares were to reach their high target of $36 the implied gain would be 59%.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.