Benefitfocus (BNFT) Releases Q4 Earnings Guidance

Benefitfocus (NASDAQ:BNFT) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.06-0.15 for the period, compared to the Thomson Reuters consensus estimate of $0.16. The company issued revenue guidance of $71.0-74.0 million, compared to the consensus revenue estimate of $73.55 million.Benefitfocus also updated its FY18 guidance to ($0.66)-($0.57) EPS.

Shares of NASDAQ:BNFT traded up $3.53 during mid-day trading on Friday, hitting $39.53. 1,229,326 shares of the company traded hands, compared to its average volume of 238,486. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -50.04 and a beta of 1.16. Benefitfocus has a 12-month low of $21.75 and a 12-month high of $45.88.

Benefitfocus (NASDAQ:BNFT) last announced its earnings results on Thursday, November 1st. The software maker reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. The company had revenue of $61.00 million for the quarter, compared to analysts’ expectations of $59.91 million. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. As a group, analysts anticipate that Benefitfocus will post -1.21 earnings per share for the current year.

BNFT has been the topic of several analyst reports. Raymond James lifted their target price on Benefitfocus from $40.00 to $50.00 and gave the company an outperform rating in a research report on Friday, August 24th. BidaskClub cut Benefitfocus from a strong-buy rating to a buy rating in a research report on Tuesday, September 18th. Guggenheim initiated coverage on Benefitfocus in a research report on Monday, August 20th. They issued a buy rating and a $45.00 price objective on the stock. Wedbush boosted their price objective on Benefitfocus from $42.00 to $44.00 and gave the stock an outperform rating in a research report on Friday. Finally, Chardan Capital boosted their price objective on Benefitfocus from $34.00 to $36.00 and gave the stock a neutral rating in a research report on Friday, August 3rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $39.73.

In other Benefitfocus news, Director Francis J. Pelzer sold 750 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $40.00, for a total value of $30,000.00. Following the transaction, the director now owns 24,275 shares of the company’s stock, valued at $971,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jonathon E. Dussault sold 4,045 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $36.81, for a total value of $148,896.45. The disclosure for this sale can be found here. In the last three months, insiders sold 10,045 shares of company stock worth $399,056. Insiders own 29.00% of the company’s stock.

A hedge fund recently raised its stake in Benefitfocus stock. Bank of New York Mellon Corp grew its position in shares of Benefitfocus Inc (NASDAQ:BNFT) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,992 shares of the software maker’s stock after buying an additional 3,648 shares during the period. Bank of New York Mellon Corp owned 0.25% of Benefitfocus worth $2,654,000 at the end of the most recent reporting period. 93.26% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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