Wall Street brokerages expect Benefitfocus Inc (NASDAQ:BNFT) to post $68.34 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Benefitfocus’ earnings. The highest sales estimate is $68.93 million and the lowest is $67.59 million. Benefitfocus reported sales of $64.17 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.5%. The firm is scheduled to announce its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Benefitfocus will report full-year sales of $68.34 million for the current year, with estimates ranging from $271.97 million to $281.80 million. For the next financial year, analysts forecast that the company will report sales of $314.73 million per share, with estimates ranging from $312.90 million to $316.55 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Benefitfocus.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings results on Wednesday, March 14th. The software maker reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $66.80 million during the quarter, compared to the consensus estimate of $66.47 million. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share.
BNFT has been the subject of several recent research reports. BidaskClub raised shares of Benefitfocus from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 7th. Zacks Investment Research raised shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Tuesday, January 2nd. ValuEngine cut shares of Benefitfocus from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Jefferies Group cut their price target on shares of Benefitfocus to $30.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Canaccord Genuity restated a “buy” rating and set a $29.00 price target (down from $32.00) on shares of Benefitfocus in a report on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $30.67.
Shares of Benefitfocus (NASDAQ:BNFT) opened at $23.55 on Friday. 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 52-week low of $21.75 and a 52-week high of $37.10.
A number of institutional investors have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC boosted its holdings in Benefitfocus by 37.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,752,918 shares of the software maker’s stock worth $47,329,000 after purchasing an additional 473,522 shares during the last quarter. BlackRock Inc. boosted its stake in Benefitfocus by 7.3% in the fourth quarter. BlackRock Inc. now owns 1,106,424 shares of the software maker’s stock valued at $29,874,000 after acquiring an additional 74,843 shares during the last quarter. Discovery Group I LLC boosted its stake in Benefitfocus by 77.7% in the third quarter. Discovery Group I LLC now owns 749,850 shares of the software maker’s stock valued at $25,232,000 after acquiring an additional 327,845 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in Benefitfocus by 83.2% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 689,102 shares of the software maker’s stock valued at $18,606,000 after acquiring an additional 312,930 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in Benefitfocus by 0.6% in the fourth quarter. Peregrine Capital Management LLC now owns 644,503 shares of the software maker’s stock valued at $17,402,000 after acquiring an additional 4,033 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.
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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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