Equities research analysts predict that Benefitfocus, Inc. (NASDAQ:BNFT) will post sales of $62.26 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Benefitfocus’ earnings, with the lowest sales estimate coming in at $62.18 million and the highest estimate coming in at $62.47 million. Benefitfocus reported sales of $58.02 million in the same quarter last year, which indicates a positive year over year growth rate of 7.3%. The business is expected to announce its next earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that Benefitfocus will report full year sales of $62.26 million for the current year, with estimates ranging from $255.53 million to $257.34 million. For the next fiscal year, analysts anticipate that the business will post sales of $288.22 million per share, with estimates ranging from $282.35 million to $293.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Benefitfocus.
Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $63.30 million for the quarter, compared to analyst estimates of $62.07 million. During the same quarter last year, the company posted ($0.22) EPS. Benefitfocus’s revenue was up 9.3% on a year-over-year basis.
BNFT has been the subject of a number of analyst reports. BidaskClub lowered shares of Benefitfocus from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Raymond James Financial, Inc. lifted their target price on shares of Benefitfocus from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Canaccord Genuity reaffirmed a “buy” rating and set a $35.00 target price on shares of Benefitfocus in a report on Tuesday, August 1st. Zacks Investment Research lowered shares of Benefitfocus from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Chardan Capital lowered shares of 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 report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $39.78.
Shares of Benefitfocus (BNFT) traded down 1.78% during midday trading on Thursday, hitting $27.55. The stock had a trading volume of 138,746 shares. The stock has a 50-day moving average of $31.18 and a 200 day moving average of $32.05. Benefitfocus has a 52 week low of $24.55 and a 52 week high of $37.10. The stock’s market cap is $858.98 million.
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Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc grew its holdings in shares of Benefitfocus by 13.2% in the 2nd quarter. Legal & General Group Plc now owns 3,593 shares of the software maker’s stock valued at $130,000 after buying an additional 420 shares during the period. Sei Investments Co. acquired a new position in shares of Benefitfocus in the 2nd quarter valued at $133,000. Aperio Group LLC acquired a new position in shares of Benefitfocus in the 2nd quarter valued at $222,000. American International Group Inc. grew its holdings in shares of 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 buying an additional 523 shares during the period. Finally, ETRADE Capital Management LLC acquired a new position in shares of Benefitfocus in the 2nd quarter valued at $227,000. 84.51% of the stock is owned by institutional investors.
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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