Benefitfocus Inc (NASDAQ:BNFT) has been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.75.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, January 2nd. BidaskClub upgraded shares of Benefitfocus from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 7th. Royal Bank of Canada lowered their price objective on shares of Benefitfocus to $24.00 and set a “sector perform” rating for the company in a research note on Thursday. Chardan Capital lowered their price objective on shares of Benefitfocus from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Wells Fargo & Co set a $30.00 price objective on shares of Benefitfocus and gave the stock a “buy” rating in a research note on Thursday. They noted that the move was a valuation call.
Several institutional investors have recently modified their holdings of BNFT. MetLife Investment Advisors LLC purchased a new position in shares of Benefitfocus during the fourth quarter worth $173,000. Sei Investments Co. raised its holdings in shares of Benefitfocus by 65.1% during the third quarter. Sei Investments Co. now owns 6,025 shares of the software maker’s stock worth $203,000 after purchasing an additional 2,375 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Benefitfocus during the fourth quarter worth $239,000. Voya Investment Management LLC purchased a new position in shares of Benefitfocus during the second quarter worth $245,000. Finally, Parametric Portfolio Associates LLC purchased a new position in shares of Benefitfocus during the second quarter worth $288,000. 88.76% of the stock is owned by hedge funds and other institutional investors.
Benefitfocus (NASDAQ:BNFT) traded down $1.25 during trading hours on Friday, hitting $23.55. 1,073,655 shares of the stock traded hands, compared to its average volume of 173,113. Benefitfocus has a 1-year low of $21.75 and a 1-year high of $37.10. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of -2.39. The firm has a market capitalization of $770.89, a P/E ratio of -28.04 and a beta of 0.98.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Wednesday, March 14th. The software maker reported ($0.06) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). The company had revenue of $66.80 million for the quarter, compared to analyst estimates of $66.47 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. research analysts forecast that Benefitfocus will post -0.8 earnings per share for the current fiscal year.
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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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