Benefitfocus Inc (NASDAQ:BNFT) has been given an average recommendation of “Hold” by the thirteen research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $41.90.
Several equities analysts have recently commented on BNFT shares. Zacks Investment Research raised shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Thursday. Wedbush reaffirmed a “buy” rating and set a $40.00 price objective on shares of Benefitfocus in a research note on Wednesday, August 7th. Raymond James set a $30.00 price objective on shares of Benefitfocus and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Chardan Capital reaffirmed a “hold” rating and set a $27.00 price objective on shares of Benefitfocus in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. started coverage on shares of Benefitfocus in a research note on Wednesday, July 3rd. They set a “neutral” rating and a $32.00 price objective for the company.
A number of hedge funds have recently added to or reduced their stakes in the stock. Tikvah Management LLC purchased a new stake in Benefitfocus in the second quarter worth about $19,571,000. First Trust Advisors LP purchased a new stake in shares of Benefitfocus during the second quarter valued at approximately $18,570,000. BlackRock Inc. grew its holdings in shares of Benefitfocus by 27.6% during the second quarter. BlackRock Inc. now owns 2,900,191 shares of the software maker’s stock valued at $78,740,000 after buying an additional 627,806 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Benefitfocus during the first quarter valued at approximately $11,546,000. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Benefitfocus during the second quarter valued at approximately $5,567,000. 97.72% of the stock is owned by institutional investors.
NASDAQ:BNFT traded up $0.74 during midday trading on Friday, hitting $24.03. The company had a trading volume of 1,058 shares, compared to its average volume of 308,418. Benefitfocus has a 52-week low of $21.60 and a 52-week high of $60.66. The stock’s fifty day moving average price is $24.92 and its 200-day moving average price is $30.01. The company has a market capitalization of $751.38 million, a PE ratio of -16.02 and a beta of 1.29.
Benefitfocus (NASDAQ:BNFT) last announced its earnings results on Tuesday, August 6th. The software maker reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.22. The company had revenue of $68.60 million during the quarter, compared to analysts’ expectations of $67.51 million. The firm’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.24) earnings per share. On average, sell-side analysts predict that Benefitfocus will post -1.44 earnings per share for the current year.
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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