Hinge Health's (HNGE) growth outlook is supported by "higher member participation," expansion of its eligible population and adoption of newer products, BofA Securities said in a note Tuesday.

BofA analysts expect Hinge to outperform Wall Street expectations, forecasting billings growth of 45% in 2026, 29% in 2027, and 25% in 2028, above consensus estimates. Management's targets for adding 4 million to 5 million "eligible lives" annually and expanding member yield could push 2027 and 2028 billings at least 5% to 7% above Wall Street forecasts, the note said.

Meanwhile, BofA also expects Hinge's competitive position, broad product offering and network of more than 50 healthcare partners to support market-share gains and sustainable revenue growth of more than 20% over the coming years.

As to risks, the analysts said they include potentially higher churn and "pricing sensitivity" as the company expands among small and medium-sized businesses. However, strong revenue growth and free cash flow margins support a premium valuation, BofA said.

BofA reinstated coverage of Hinge Health with a buy rating and a $110 price objective.

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