Benefitfocus, Inc. (BNFT) Receives Average Rating of “Hold” from Brokerages
Benefitfocus, Inc. (NASDAQ:BNFT) has been given a consensus recommendation of “Hold” by the ten ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $35.00.
Several equities analysts recently issued reports on BNFT shares. BidaskClub cut shares of Benefitfocus from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Raymond James Financial, Inc. boosted their price objective on shares of Benefitfocus from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Canaccord Genuity reissued a “buy” rating and set a $35.00 price objective on shares of Benefitfocus in a research note on Tuesday, August 1st. Zacks Investment Research lowered shares of Benefitfocus from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Chardan Capital lowered shares of Benefitfocus from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $36.00 to $30.00 in a research note on Friday, August 4th.
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Benefitfocus (NASDAQ BNFT) opened at $25.23 on Friday. Benefitfocus has a 52-week low of $22.30 and a 52-week high of $37.10. The company has a debt-to-equity ratio of -2.53, a quick ratio of 1.12 and a current 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 (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. The company had revenue of $62.45 million for the quarter, compared to analysts’ expectations of $62.19 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. Benefitfocus’s quarterly revenue was up 7.6% compared to the same quarter last year. equities analysts expect that Benefitfocus will post -0.88 earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in Benefitfocus by 13.2% during the second quarter. Legal & General Group Plc now owns 3,593 shares of the software maker’s stock worth $130,000 after acquiring an additional 420 shares in the last quarter. Sei Investments Co. bought a new position in shares of Benefitfocus in the second quarter worth approximately $133,000. Aperio Group LLC bought a new position in shares of Benefitfocus in the second quarter worth approximately $222,000. ETRADE Capital Management LLC bought a new position in shares of Benefitfocus in the second quarter worth approximately $227,000. Finally, Voya Investment Management LLC bought a new position in shares of Benefitfocus in the second quarter worth approximately $245,000. 85.42% 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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