Benefitfocus, Inc. (BNFT) Expected to Post Quarterly Sales of $62.26 Million
Equities research analysts expect Benefitfocus, Inc. (NASDAQ:BNFT) to report sales of $62.26 million for the current quarter, according to Zacks. Four analysts have issued estimates for Benefitfocus’ earnings, with estimates ranging from $62.18 million to $62.47 million. Benefitfocus reported sales of $58.02 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.3%. The company is expected to issue its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Benefitfocus will report full-year sales of $62.26 million for the current year, with estimates ranging from $256.40 million to $266.00 million. For the next fiscal year, analysts expect that the firm will post sales of $297.98 million per share, with estimates ranging from $287.00 million to $320.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Benefitfocus.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.09. The firm had revenue of $63.30 million during the quarter, compared to analysts’ expectations of $62.07 million. During the same period last year, the company earned ($0.22) earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year.
BNFT has been the topic of several recent analyst reports. Chardan Capital boosted their target price on shares of Benefitfocus from $31.00 to $36.00 and gave the company a “buy” rating in a report on Friday, April 28th. William Blair upgraded shares of Benefitfocus from a “market perform” rating to an “outperform” rating in a report on Thursday, June 1st. Zacks Investment Research upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, June 28th. BidaskClub lowered shares of Benefitfocus from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Raymond James Financial, Inc. boosted their target price on shares of Benefitfocus from $38.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $39.00.
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Shares of Benefitfocus (NASDAQ:BNFT) opened at 28.05 on Friday. Benefitfocus has a 52-week low of $24.55 and a 52-week high of $43.25. The company has a 50-day moving average of $34.20 and a 200-day moving average of $30.99. The stock’s market capitalization is $874.57 million.
Several large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Benefitfocus by 70.0% in the second quarter. FMR LLC now owns 4,651,067 shares of the software maker’s stock worth $169,066,000 after buying an additional 1,914,954 shares during the period. Frontier Capital Management Co. LLC increased its stake in Benefitfocus by 46.1% in the first quarter. Frontier Capital Management Co. LLC now owns 2,101,828 shares of the software maker’s stock worth $58,746,000 after buying an additional 663,362 shares during the period. Vanguard Group Inc. increased its stake in Benefitfocus by 11.7% in the second quarter. Vanguard Group Inc. now owns 1,238,539 shares of the software maker’s stock worth $45,021,000 after buying an additional 129,829 shares during the period. Artisan Partners Limited Partnership increased its stake in Benefitfocus by 3.0% in the second quarter. Artisan Partners Limited Partnership now owns 968,092 shares of the software maker’s stock worth $35,190,000 after buying an additional 28,491 shares during the period. Finally, Credit Suisse AG increased its stake in Benefitfocus by 4,598.7% in the first quarter. Credit Suisse AG now owns 623,144 shares of the software maker’s stock worth $17,416,000 after buying an additional 609,882 shares during the period. 83.32% of the stock is currently owned by institutional investors and hedge funds.
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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