Benefitfocus, Inc. (NASDAQ:BNFT) has been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $40.00.

Several brokerages recently issued reports on BNFT. Zacks Investment Research lowered shares of Benefitfocus from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Berenberg Bank reiterated a “buy” rating and issued a $36.00 target price on shares of Benefitfocus in a research report on Thursday, August 10th. Piper Jaffray Companies reiterated a “buy” rating and issued a $43.00 target price on shares of Benefitfocus in a research report on Friday, August 4th. Chardan Capital lowered shares of Benefitfocus from a “buy” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $30.00 in a research report on Friday, August 4th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $35.00 target price on shares of Benefitfocus in a research report on Tuesday, August 1st.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc boosted its position in Benefitfocus by 13.2% during the second quarter. Legal & General Group Plc now owns 3,593 shares of the software maker’s stock valued at $130,000 after buying an additional 420 shares during the period. Sei Investments Co. purchased a new stake in Benefitfocus during the second quarter valued at about $133,000. American International Group Inc. boosted its position in Benefitfocus by 7.1% during the first quarter. American International Group Inc. now owns 7,926 shares of the software maker’s stock valued at $222,000 after buying an additional 523 shares during the period. Aperio Group LLC purchased a new stake in Benefitfocus during the second quarter valued at about $222,000. Finally, ETRADE Capital Management LLC purchased a new stake in Benefitfocus during the second quarter valued at about $227,000. Institutional investors and hedge funds own 84.63% of the company’s stock.

Shares of Benefitfocus (NASDAQ:BNFT) opened at 31.40 on Wednesday. The firm has a 50 day moving average price of $31.13 and a 200-day moving average price of $31.88. The firm’s market cap is $979.02 million. Benefitfocus has a one year low of $24.55 and a one year high of $42.24.

Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The firm had revenue of $63.30 million during the quarter, compared to the consensus estimate of $62.07 million. During the same period in the previous year, the company posted ($0.22) EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts forecast that Benefitfocus will post ($0.30) earnings per share for the current year.

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About Benefitfocus

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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