Health Insurance Innovations, Inc. (NYSE:HIIQ)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a note issued to investors on Monday. They presently have a $39.00 price objective on the stock.

The analysts wrote, “We forecast supplemental policy growth of 15.9% which compares to 41.5% last year in 4Q’16, and 31.0% in the most recent quarter 3Q’17. We forecast IFP policy growth of 35.4% which compares to 58.1% last year in 4Q’16, and 45.6% in the most recent quarter 3Q’17. We also have a conservative estimate for gross margin (risk premium as % of premium equivalent). Based on these drivers, we think our revenue and adj-EBITDA estimates of $57.9M (+12.5% y/y) and $8.3M (-6.7% y/y) likely set the company up for another beat. If HIIQ posted similar policy growth as 3Q’17, implied 4Q’17 revenue and adj-EBITDA would be $67.6M and $9.6M, respectively.””

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About Health Insurance Innovations

Health Insurance Innovations, Inc is a developer, distributor and cloud-based administrator of individual and family health insurance plans (IFPs) and supplemental products, which include short-term medical (STM) insurance plans, and guaranteed-issue and underwritten hospital indemnity plans. The Company also develops, distributes and administers supplemental products, which include a range of additional insurance and non-insurance products, such as pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies that are purchased as supplements to IFP.

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