Needham & Company Reinstates Coverage on Financial Engines (FNGN) at Buy; An Open Ended Growth Story With a Scalable Operating Model

Needham & Company reinstates coverage on Financial Engines (NASDAQ: FNGN) with a Buy. PT $26.00.

Needham analyst says, "The company is the largest independent investment advisor and is focused on providing unconflicted and personalized investment advice to 401(k) plan participants. The market opportunity is large and underserved, with favorable demographic trends, legislative and regulatory tailwinds, and an increased demand for advice in the workplace should lead to open ended growth for FNGN. The growth runway is long, the barriers to entry are high, and operating leverage should result in 30%+ EBITDA growth long term. As a fast growing technology-based provider with a recurring revenue model, we believe FNGN should be valued in line with other high growth recurring revenue businesses."

For an analyst ratings summary and ratings history on Financial Engines click here. For more ratings news on Financial Engines click here.

Shares of Financial Engines closed at $20.85 yesterday.

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