Benefitfocus, Inc. (BNFT) Announces Earnings Results
Benefitfocus, Inc. (NASDAQ:BNFT) announced its quarterly earnings data on Wednesday. The software maker reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.08, Bloomberg Earnings reports. The business had revenue of $62.45 million for the quarter, compared to analyst estimates of $62.19 million. During the same quarter in the previous year, the business posted ($0.14) earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year.
A number of equities research analysts have commented on BNFT shares. Zacks Investment Research lowered Benefitfocus from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Canaccord Genuity restated a “buy” rating and set a $35.00 price objective on shares of Benefitfocus in a research report on Tuesday, August 1st. BidaskClub lowered Benefitfocus from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Chardan Capital lowered Benefitfocus from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $30.00 in a research report on Friday, August 4th. Finally, Raymond James Financial, Inc. raised their price objective on Benefitfocus from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $39.67.
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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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