Analysts expect Benefitfocus, Inc. (NASDAQ:BNFT) to post sales of $66.43 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Benefitfocus’ earnings, with the lowest sales estimate coming in at $66.13 million and the highest estimate coming in at $66.61 million. Benefitfocus reported sales of $62.65 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6%. The business is scheduled to announce its next earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Benefitfocus will report full year sales of $66.43 million for the current year, with estimates ranging from $256.11 million to $256.80 million. For the next financial year, analysts anticipate that the company will post sales of $278.04 million per share, with estimates ranging from $271.97 million to $281.80 million. Zacks’ sales averages are an average based on a survey of research analysts that cover Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last issued its earnings results on Thursday, November 2nd. The software maker reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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. During the same quarter in the prior year, the firm posted ($0.14) EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis.

A number of research analysts recently issued reports on BNFT shares. Zacks Investment Research cut Benefitfocus from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Canaccord Genuity reissued a “buy” rating and set a $35.00 price objective on shares of Benefitfocus in a report on Tuesday, August 1st. BidaskClub cut Benefitfocus from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Chardan Capital cut 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 report on Friday, August 4th. Finally, Raymond James Financial, Inc. boosted their price objective on Benefitfocus from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $35.38.

Benefitfocus (BNFT) opened at $25.50 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of -2.39. Benefitfocus has a twelve month low of $22.30 and a twelve month high of $37.10.

In other news, CEO Shawn A. Jenkins purchased 37,000 shares of Benefitfocus stock in a transaction on Monday, November 6th. The stock was purchased at an average price of $25.27 per share, with a total value of $934,990.00. Following the transaction, the chief executive officer now directly owns 2,782,683 shares in the company, valued at approximately $70,318,399.41. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 40.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc raised its stake 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 purchasing an additional 420 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Benefitfocus during the 2nd quarter worth approximately $133,000. Aperio Group LLC bought a new stake in Benefitfocus in the 2nd quarter valued at $222,000. American International Group Inc. raised its stake in Benefitfocus by 7.1% in the 1st quarter. American International Group Inc. now owns 7,926 shares of the software maker’s stock valued at $222,000 after acquiring an additional 523 shares during the period. Finally, ETRADE Capital Management LLC bought a new stake in Benefitfocus in the 2nd quarter valued at $227,000. Institutional investors own 83.54% of the company’s stock.

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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.

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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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