Hirequest

HQI · NASDAQ

$17.11−$0.22 (−1.27%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $17.33

HQI analyst rating

BuyConsensus of 2 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy2
Hold0
Underperform0
Sell0

12-month price target · 3 analysts

Average $19.38 (+13.3% upside)

Low: $19.19
Now: $17.11
High: $19.95

Upgrades and downgrades

The latest rating actions, newest first

HQI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
DA Davidson	Aug 11, 2026	Maintains	Buy	$15.00 → $19.00	62%
Barrington Research	May 18, 2026	Maintains	Outperform	$13.00 → $15.00	59%
DA Davidson	May 13, 2026	Maintains	Buy	$15.00	62%
Barrington Research	Apr 13, 2026	Maintains	Outperform	$13.00	59%
Barrington Research	Jan 29, 2026	Maintains	Outperform	$13.00	59%
Barrington Research	Nov 12, 2025	Maintains	Outperform	$13.00	59%

The case for and against

Updated Oct 14, 2026

Bull case

HireQuest is attractive fundamentally because its franchise-driven model converts system-wide sales into high-margin royalty fees, and Q1/26 showed better-than-expected revenue of $6.5 million, franchise royalty fees of $6.1 million, and adjusted EBITDA of $2.7 million despite a difficult staffing backdrop. The company is also benefiting from share gains in national accounts, improving industry demand, and lower SG&A, which support operating leverage as revenue recovers and should enhance forward profitability. With no debt, $41 million of liquidity, and a disciplined acquisition strategy that can scale system-wide sales without heavy balance-sheet risk, its downside appears limited while its earnings power is improving.

Bear case

HireQuest is facing a weak fundamental backdrop because revenue fell 12.7% to $6.5M, below the $6.75M consensus, and system-wide sales dropped 13.3% to $102.5M, showing that core demand remains under pressure even after adjusting for the MRINetwork divestiture. Its business is highly cyclical and economically sensitive, so any slowdown can quickly weigh on staffing volumes, while tight labor markets can also raise sourcing and pricing risks if clients resist higher costs. Although management cited improvement into the first month plus of 2Q26 and some share gains, the combination of limited float and reliance on royalty fees leaves the stock vulnerable if those early trends do not persist.

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