Benefitfocus (BNFT) Upgraded at BidaskClub

BidaskClub upgraded shares of Benefitfocus (NASDAQ:BNFT) from a sell rating to a hold rating in a report released on Saturday morning.

BNFT has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Benefitfocus from a hold rating to a sell rating in a research report on Tuesday, March 20th. Royal Bank of Canada reduced their target price on shares of Benefitfocus to $24.00 and set a sector perform rating for the company in a research report on Thursday, March 15th. Jefferies Group reduced their target price on shares of Benefitfocus to $30.00 and set a buy rating for the company in a research report on Thursday, March 15th. ValuEngine downgraded shares of Benefitfocus from a sell rating to a strong sell rating in a research report on Thursday, March 1st. Finally, Wells Fargo reissued a buy rating and set a $30.00 target price (down from $35.00) on shares of Benefitfocus in a research report on Thursday, March 15th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $30.78.

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NASDAQ:BNFT opened at $27.10 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of -2.23. The stock has a market capitalization of $816.18, a price-to-earnings ratio of -34.30 and a beta of 0.94. Benefitfocus has a 52 week low of $21.75 and a 52 week high of $37.10.

Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Wednesday, March 14th. The software maker reported ($0.06) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The firm had revenue of $66.80 million during the quarter, compared to analysts’ expectations of $66.47 million. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. equities analysts forecast that Benefitfocus will post -1.27 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC boosted its holdings in Benefitfocus by 37.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,752,918 shares of the software maker’s stock worth $47,329,000 after buying an additional 473,522 shares during the period. BlackRock Inc. boosted its holdings in Benefitfocus by 7.3% in the 4th quarter. BlackRock Inc. now owns 1,106,424 shares of the software maker’s stock worth $29,874,000 after buying an additional 74,843 shares during the period. ArrowMark Colorado Holdings LLC boosted its holdings in Benefitfocus by 83.2% in the 4th 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 during the period. Peregrine Capital Management LLC boosted its holdings in Benefitfocus by 0.6% in the 4th quarter. Peregrine Capital Management LLC now owns 644,503 shares of the software maker’s stock worth $17,402,000 after buying an additional 4,033 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Benefitfocus by 30.6% in the 4th quarter. Wells Fargo & Company MN now owns 310,023 shares of the software maker’s stock worth $8,370,000 after buying an additional 72,723 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

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About Benefitfocus

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.

Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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