Financial Engines (NASDAQ:FNGN) Has Strong, Defensive Moat Says Needham

Financial Engines (NASDAQ:FNGN) has a strong business model which makes it difficult for competitors to enter into their market, according to Needham & Company.

Needham says, "Financial Engines is an investment advisor with a unique business model that enables the company to personalize investment advice for its customers and to operate in a segment of the market where potential competitors would find it difficult to operate profitably. We expect Financial Engines to continue to enjoy best-in-class growth and for FNGN shares to reach $30 within the next 12 months."

Needham & Company reiterates a 'Buy' on Financial Engines (FNGN), which closed Thursday at $24.10, up $0.19, or 0.79 percent. Needham raised their price target on Financial Engines from $20 to $30 a share.