Benefitfocus, Inc. (NASDAQ:BNFT)‘s stock had its “buy” rating reiterated by equities research analysts at Piper Jaffray Companies in a report issued on Friday. They currently have a $34.00 price objective on the software maker’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 34.76% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Benefitfocus from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Canaccord Genuity reissued a “buy” rating and set a $35.00 target price on shares of Benefitfocus in a research note on Tuesday, August 1st. BidaskClub cut Benefitfocus from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Chardan Capital cut Benefitfocus from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $30.00 in a research note on Friday, August 4th. Finally, Raymond James Financial, Inc. increased their target price on Benefitfocus from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Benefitfocus has an average rating of “Buy” and a consensus price target of $38.67.

Shares of Benefitfocus (NASDAQ BNFT) traded down $1.07 during trading hours on Friday, hitting $25.23. 663,217 shares of the company were exchanged, compared to its average volume of 181,400. The company has a debt-to-equity ratio of -2.53, a current ratio of 1.12 and a quick ratio of 1.12.

Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $62.45 million during the quarter, compared to analyst estimates of $62.19 million. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. research analysts predict that Benefitfocus will post -0.88 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its holdings in Benefitfocus by 13.2% during the 2nd quarter. Legal & General Group Plc now owns 3,593 shares of the software maker’s stock valued at $130,000 after purchasing an additional 420 shares during the last quarter. Sei Investments Co. acquired a new stake in Benefitfocus during the 2nd quarter valued at $133,000. Aperio Group LLC acquired a new stake in Benefitfocus during the 2nd quarter valued at $222,000. American International Group Inc. lifted its holdings in Benefitfocus by 7.1% during the 1st quarter. American International Group Inc. now owns 7,926 shares of the software maker’s stock valued at $222,000 after purchasing an additional 523 shares during the last quarter. Finally, ETRADE Capital Management LLC acquired a new stake in Benefitfocus during the 2nd quarter valued at $227,000. 85.42% of the stock is owned by institutional investors and hedge funds.

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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