Analysts forecast that Benefitfocus, Inc. (NASDAQ:BNFT) will post $62.21 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Benefitfocus’ earnings. The lowest sales estimate is $62.00 million and the highest is $62.37 million. Benefitfocus reported sales of $57.87 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 2nd.

On average, analysts expect that Benefitfocus will report full year sales of $62.21 million for the current financial year, with estimates ranging from $264.10 million to $266.72 million. For the next fiscal year, analysts forecast that the company will post sales of $314.87 million per share, with estimates ranging from $303.70 million to $322.91 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last announced its earnings results on Thursday, April 27th. The software maker reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.02. The firm had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $62.94 million. Benefitfocus’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.29) earnings per share.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Benefitfocus from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday. William Blair upgraded Benefitfocus from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 1st. Chardan Capital upped their target price on Benefitfocus from $31.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and issued a $35.00 target price on shares of Benefitfocus in a research note on Thursday, March 16th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $33.00 target price on shares of Benefitfocus in a research report on Thursday, March 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $39.00.

In related news, insider James P. Restivo sold 2,193 shares of Benefitfocus stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $27.28, for a total transaction of $59,825.04. Following the completion of the transaction, the insider now directly owns 51,401 shares of the company’s stock, valued at approximately $1,402,219.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 40.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BNFT. State Street Corp raised its stake in Benefitfocus by 1.9% in the fourth quarter. State Street Corp now owns 217,686 shares of the software maker’s stock worth $6,466,000 after buying an additional 4,162 shares during the period. GSA Capital Partners LLP acquired a new position in Benefitfocus during the fourth quarter worth approximately $395,000. Capital Impact Advisors LLC acquired a new position in Benefitfocus during the first quarter worth approximately $1,673,000. Raymond James Trust N.A. acquired a new position in Benefitfocus during the first quarter worth approximately $265,000. Finally, Wells Fargo & Company MN raised its position in Benefitfocus by 27.5% in the first quarter. Wells Fargo & Company MN now owns 227,589 shares of the software maker’s stock worth $6,361,000 after buying an additional 49,073 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

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Benefitfocus (BNFT) traded down 1.79% during midday trading on Thursday, reaching $35.65. 22,402 shares of the company traded hands. Benefitfocus has a 12 month low of $24.55 and a 12 month high of $44.98. The firm has a 50 day moving average of $33.16 and a 200-day moving average of $29.92. The stock’s market capitalization is $1.11 billion.

Benefitfocus Company Profile

Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through two business segments: Employer, which derives its revenue from customers that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.

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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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