Health Insurance Innovations target lowered to $50 from $80 at Lake Street

Lake Street analyst Mark Argento lowered his price target for Health Insurance Innovations to $50 from $80 following the company’s Q1 results while keeping a Buy rating on the shares. Strong policy duration growth has been offset by lower new policy adds and higher duration and expenses in the last two quarters, which is likely to persist in Q2 given management’s updated quarterly guidance, Argento tells investors in a research note. The analyst points out that Health Insurance’s fiscal 2019 guidance is now increasingly back-end loaded.

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