Benefitfocus, Inc. (NASDAQ:BNFT) has received a consensus rating of “Buy” from the twelve brokerages that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $40.00.

Several analysts have commented on the stock. Berenberg Bank reissued a “buy” rating and issued a $36.00 target price on shares of Benefitfocus in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Tuesday, August 8th. Piper Jaffray Companies reissued a “buy” rating and issued a $43.00 target price on shares of Benefitfocus in a research report on Friday, August 4th. Chardan Capital downgraded shares of Benefitfocus from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $30.00 in a research report on Friday, August 4th. Finally, William Blair raised shares of Benefitfocus from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 1st.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its holdings in shares of Benefitfocus by 13.2% during the 2nd quarter. Legal & General Group Plc now owns 3,593 shares of the software maker’s stock worth $130,000 after buying an additional 420 shares during the period. American International Group Inc. boosted its holdings in shares of Benefitfocus by 7.1% during the 1st quarter. American International Group Inc. now owns 7,926 shares of the software maker’s stock worth $222,000 after buying an additional 523 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Benefitfocus by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 52,301 shares of the software maker’s stock worth $1,462,000 after buying an additional 632 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Benefitfocus by 5.3% during the 4th quarter. Teachers Advisors LLC now owns 21,537 shares of the software maker’s stock worth $640,000 after buying an additional 1,087 shares during the period. Finally, Nationwide Fund Advisors boosted its holdings in shares of Benefitfocus by 20.6% during the 2nd quarter. Nationwide Fund Advisors now owns 9,029 shares of the software maker’s stock worth $328,000 after buying an additional 1,542 shares during the period. 84.63% of the stock is owned by institutional investors and hedge funds.

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Benefitfocus (NASDAQ:BNFT) opened at 32.35 on Friday. Benefitfocus has a 12-month low of $24.55 and a 12-month high of $42.49. The firm’s market cap is $1.01 billion. The company’s 50 day moving average is $30.46 and its 200 day moving average is $31.15.

Benefitfocus (NASDAQ:BNFT) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. The business had revenue of $63.30 million during the quarter, compared to the consensus estimate of $62.07 million. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.22) earnings per share. On average, equities analysts anticipate that Benefitfocus will post ($0.30) earnings per share for the current year.

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.

Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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