Wall Street analysts forecast that Benefitfocus Inc (NASDAQ:BNFT) will report sales of $62.21 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Benefitfocus’ earnings, with estimates ranging from $62 million to $62.37 million. Benefitfocus reported sales of $57.87 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The company is expected to issue its next earnings results on Wednesday, August 2nd.
According to Zacks, analysts expect that Benefitfocus will report full year sales of $62.21 million for the current fiscal year, with estimates ranging from $264.1 million to $266.72 million. For the next year, analysts expect that the business will report sales of $312.55 million per share, with estimates ranging from $291.28 million to $322.91 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Benefitfocus.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Thursday, April 27th. The software maker reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.02. The business had revenue of $64.10 million for the quarter, compared to the consensus estimate of $62.94 million. During the same period in the previous year, the firm earned ($0.29) EPS. The company’s revenue was up 17.0% on a year-over-year basis.
A number of research firms have recently weighed in on BNFT. Chardan Capital raised their price target on shares of Benefitfocus from $31.00 to $36.00 and gave the company a “buy” rating in a report on Friday, April 28th. Canaccord Genuity restated a “buy” rating and issued a $33.00 price target on shares of Benefitfocus in a report on Thursday, March 16th. Berenberg Bank began coverage on shares of Benefitfocus in a report on Tuesday, February 7th. They issued a “buy” rating and a $36.00 price target on the stock. Royal Bank of Canada restated a “hold” rating and issued a $33.00 price target on shares of Benefitfocus in a report on Friday, February 24th. Finally, Zacks Investment Research upgraded shares of Benefitfocus from a “sell” rating to a “hold” rating in a report on Wednesday, March 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.67.
In related news, insider James P. Restivo sold 2,193 shares of Benefitfocus stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $27.28, for a total value of $59,825.04. Following the completion of the sale, the insider now directly owns 51,401 shares in the company, valued at approximately $1,402,219.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 45.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. First Mercantile Trust Co. boosted its stake in shares of Benefitfocus by 544.0% in the first quarter. First Mercantile Trust Co. now owns 4,476 shares of the software maker’s stock valued at $125,000 after buying an additional 3,781 shares during the last quarter. Pacad Investment Ltd. boosted its stake in shares of Benefitfocus by 500.0% in the fourth quarter. Pacad Investment Ltd. now owns 4,800 shares of the software maker’s stock valued at $143,000 after buying an additional 4,000 shares during the last quarter. Intellectus Partners LLC acquired a new stake in shares of Benefitfocus during the fourth quarter valued at approximately $220,000. Stoneridge Investment Partners LLC acquired a new stake in shares of Benefitfocus during the first quarter valued at approximately $264,000. Finally, Raymond James Trust N.A. acquired a new stake in shares of Benefitfocus during the first quarter valued at approximately $265,000. Institutional investors own 80.97% of the company’s stock.
Benefitfocus (NASDAQ:BNFT) traded down 0.48% during midday trading on Wednesday, reaching $31.05. 34,171 shares of the company traded hands. The company has a 50 day moving average price of $28.36 and a 200-day moving average price of $28.98. The stock’s market capitalization is $963.85 million. Benefitfocus has a one year low of $24.55 and a one year high of $44.98.
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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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