Benefitfocus Inc (BNFT) Expected to Post Quarterly Sales of $66.43 Million

Equities research analysts expect Benefitfocus Inc (NASDAQ:BNFT) to report sales of $66.43 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Benefitfocus’ earnings. The lowest sales estimate is $66.13 million and the highest is $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 company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, March 14th.

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 year, analysts expect that the business will report 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 firms that that provide coverage for Benefitfocus.

BNFT has been the subject of several recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and set a $34.00 price objective on shares of Benefitfocus in a report on Monday, October 30th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $34.00 price objective on shares of Benefitfocus in a report on Friday, November 3rd. Zacks Investment Research raised shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Tuesday, January 2nd. William Blair lowered shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a report on Friday, November 3rd. Finally, BidaskClub raised shares of Benefitfocus from a “strong sell” rating to a “sell” rating in a report on Thursday, December 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $34.38.

Shares of Benefitfocus (BNFT) opened at $23.90 on Friday. The firm has a market cap of $753.68, a P/E ratio of -28.45 and a beta of 0.99. The company has a debt-to-equity ratio of -2.39, a quick ratio of 1.08 and a current ratio of 1.08. Benefitfocus has a fifty-two week low of $22.30 and a fifty-two week high of $37.10.

Several institutional investors have recently modified their holdings of BNFT. Legal & General Group Plc increased its holdings in shares of Benefitfocus by 13.2% in the second 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 in the last quarter. Sei Investments Co. increased its holdings in shares of Benefitfocus by 65.1% in the third quarter. Sei Investments Co. now owns 6,025 shares of the software maker’s stock valued at $203,000 after purchasing an additional 2,375 shares in the last quarter. Aperio Group LLC acquired a new stake in shares of Benefitfocus in the fourth quarter valued at approximately $239,000. Voya Investment Management LLC acquired a new stake in shares of Benefitfocus in the second quarter valued at approximately $245,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Benefitfocus in the second quarter valued at approximately $251,000. 87.34% of the stock is owned by institutional investors and hedge funds.

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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.

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