Benefitfocus (NASDAQ:BNFT)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity in a report released on Thursday, March 15th. They presently have a $29.00 target price on the software maker’s stock, down from their previous target price of $32.00. Canaccord Genuity’s target price would suggest a potential upside of 17.65% from the company’s previous close.
Several other research firms have also issued reports on BNFT. BidaskClub raised Benefitfocus from a “strong sell” rating to a “sell” rating in a report on Thursday, December 7th. ValuEngine lowered Benefitfocus from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Zacks Investment Research raised Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, January 2nd. Finally, Jefferies Group cut their price target on Benefitfocus to $30.00 and set a “buy” rating for the company in a report on Thursday, March 15th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Benefitfocus has a consensus rating of “Hold” and an average target price of $30.78.
Shares of BNFT stock traded up $0.30 during mid-day trading on Thursday, hitting $24.65. The company’s stock had a trading volume of 169,493 shares, compared to its average volume of 288,469. The company has a debt-to-equity ratio of -2.23, a current ratio of 0.96 and a quick ratio of 0.96. Benefitfocus has a 52-week low of $21.75 and a 52-week high of $37.10. The stock has a market capitalization of $772.31, a P/E ratio of -31.20 and a beta of 0.94.
Benefitfocus (NASDAQ:BNFT) last issued 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 firm had revenue of $66.80 million during the quarter, compared to the consensus estimate of $66.47 million. During the same period in the previous year, the firm earned ($0.09) EPS. The business’s revenue was up 6.7% on a year-over-year basis. analysts anticipate that Benefitfocus will post -1.27 earnings per share for the current year.
Several large investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC purchased a new stake in shares of Benefitfocus in the fourth quarter worth about $173,000. Deutsche Bank AG lifted its position in shares of Benefitfocus by 81.0% in the fourth quarter. Deutsche Bank AG now owns 38,852 shares of the software maker’s stock worth $1,048,000 after buying an additional 17,392 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of Benefitfocus by 83.2% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 689,102 shares of the software maker’s stock worth $18,606,000 after buying an additional 312,930 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Benefitfocus by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 204,988 shares of the software maker’s stock worth $5,534,000 after buying an additional 16,186 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new stake in shares of Benefitfocus in the fourth quarter worth about $1,116,000. Institutional investors own 86.19% of the company’s stock.
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Benefitfocus Company Profile
Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.
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