Needham & Company Maintains a 'Buy' on Financial Engines (FNGN); Solid 4Q Results; Guidance/Estimates Raised
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Price: $44.95 --0%
Rating Summary:
1 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Financial Engines (NASDAQ: FNGN) price target raised from $26 to $30.
Analyst, Mayank Tandon, said, "FNGN delivered a solid 4Q, posting upside in revenue and EPS, and raised FY12 guidance to reflect higher market levels. With a large and underserved market opportunity, favorable demographic trends, legislative and regulatory tailwinds, and increased demand for advice in the workplace, we continue to see FNGN as an open-ended growth story. The growth runway looks long,, barriers to entry are high, and operating leverage should drive 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 FY12) We have fine tuned our model for the updated guidance, increasing our revenue estimate to $182MM from $176MM, EBITDA estimate to $52MM from $50MM, and EPS forecast to $0.47 from $0.45."
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 $24.00 yesterday.
Analyst, Mayank Tandon, said, "FNGN delivered a solid 4Q, posting upside in revenue and EPS, and raised FY12 guidance to reflect higher market levels. With a large and underserved market opportunity, favorable demographic trends, legislative and regulatory tailwinds, and increased demand for advice in the workplace, we continue to see FNGN as an open-ended growth story. The growth runway looks long,, barriers to entry are high, and operating leverage should drive 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 FY12) We have fine tuned our model for the updated guidance, increasing our revenue estimate to $182MM from $176MM, EBITDA estimate to $52MM from $50MM, and EPS forecast to $0.47 from $0.45."
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 $24.00 yesterday.
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