Zacks: Analysts Anticipate Benefitfocus Inc (NASDAQ:BNFT) Will Announce Quarterly Sales of $67.43 Million

Equities analysts expect Benefitfocus Inc (NASDAQ:BNFT) to post sales of $67.43 million for the current quarter, Zacks reports. Six analysts have provided estimates for Benefitfocus’ earnings. The lowest sales estimate is $66.64 million and the highest is $68.04 million. Benefitfocus reported sales of $60.58 million in the same quarter last year, which would suggest a positive year over year growth rate of 11.3%. The business is expected to report its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Benefitfocus will report full-year sales of $303.89 million for the current financial year, with estimates ranging from $302.05 million to $306.59 million. For the next year, analysts anticipate that the business will report sales of $355.61 million, with estimates ranging from $351.45 million to $370.27 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings results on Wednesday, May 1st. The software maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $68.30 million during the quarter, compared to analyst estimates of $67.77 million. During the same quarter last year, the firm posted ($0.26) EPS. Benefitfocus’s revenue was up 9.5% compared to the same quarter last year.

Several equities research analysts have weighed in on the company. ValuEngine upgraded VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. BidaskClub cut Zynga from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Royal Bank of Canada increased their price objective on Shopify from C$230.00 to C$265.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Cantor Fitzgerald reiterated a “buy” rating and issued a $60.00 price objective on shares of Benefitfocus in a report on Wednesday, May 1st. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $70.00 price objective on shares of Church & Dwight in a report on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Benefitfocus presently has an average rating of “Hold” and an average target price of $51.92.

In other news, CFO Lou Anne Gilmore sold 1,019 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $26.89, for a total value of $27,400.91. Following the completion of the transaction, the chief financial officer now owns 34,133 shares in the company, valued at approximately $917,836.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Raymond Alexander August bought 3,200 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $31.15 per share, with a total value of $99,680.00. Following the purchase, the insider now owns 511,925 shares in the company, valued at $15,946,463.75. The disclosure for this purchase can be found here. Company insiders own 9.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new position in Benefitfocus during the 1st quarter valued at approximately $2,367,000. Jane Street Group LLC bought a new position in Benefitfocus during the 4th quarter valued at approximately $1,414,000. Raymond James Trust N.A. increased its position in Benefitfocus by 4.3% during the 1st quarter. Raymond James Trust N.A. now owns 12,079 shares of the software maker’s stock valued at $598,000 after buying an additional 500 shares in the last quarter. Pier Capital LLC bought a new position in Benefitfocus during the 1st quarter valued at approximately $9,542,000. Finally, Raymond James & Associates increased its position in Benefitfocus by 4.7% during the 1st quarter. Raymond James & Associates now owns 262,512 shares of the software maker’s stock valued at $13,000,000 after buying an additional 11,899 shares in the last quarter. 98.59% of the stock is owned by institutional investors.

BNFT opened at $26.17 on Friday. The stock’s 50 day moving average is $27.09. Benefitfocus has a 1 year low of $24.74 and a 1 year high of $60.66. The company has a market cap of $851.31 million, a price-to-earnings ratio of -17.56 and a beta of 1.35.

Benefitfocus Company Profile

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, suppliers, and brokers in the United States. The company operates through Employer and Carrier segments. Its products for insurance carriers include BenefitsPlace, a transaction-oriented, marketplace solution; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution that bridges the integration gap between carrier and employer systems; eSales for carriers and brokers tools to organize and manage accounts, track leads, generate quotes, and create proposals for various products; and Core & Advanced Analytics, a data analytics solution.

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