Wall Street brokerages forecast that Benefitfocus, Inc. (NASDAQ:BNFT) will report sales of $66.43 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Benefitfocus’ earnings, with estimates ranging from $66.13 million to $66.61 million. Benefitfocus posted sales of $62.65 million in the same quarter last year, which suggests a positive year over year growth rate of 6%. The business is scheduled to announce its next earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Benefitfocus will report full year sales of $66.43 million for the current fiscal year, with estimates ranging from $256.11 million to $256.80 million. For the next year, analysts anticipate that the business will report sales of $278.04 million per share, with estimates ranging from $271.97 million to $281.80 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Benefitfocus.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.08. The business had revenue of $62.45 million during the quarter, compared to analysts’ expectations of $62.19 million. During the same period in the previous year, the business posted ($0.14) EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year.
BNFT has been the topic of a number of recent research reports. Canaccord Genuity reissued a “buy” rating and issued a $35.00 price objective on shares of Benefitfocus in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of Benefitfocus from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. William Blair cut shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Berenberg Bank reissued a “buy” rating and issued a $36.00 price objective on shares of Benefitfocus in a research note on Thursday, August 10th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $34.00 price objective on shares of Benefitfocus in a research note on Friday, November 3rd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $35.38.
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Benefitfocus (NASDAQ:BNFT) traded up $0.80 during mid-day trading on Wednesday, reaching $26.55. 106,156 shares of the company’s stock were exchanged, compared to its average volume of 206,753. The company has a debt-to-equity ratio of -2.39, a quick ratio of 1.08 and a current ratio of 1.08. Benefitfocus has a 12 month low of $22.30 and a 12 month high of $37.10.
In related news, CEO Shawn A. Jenkins acquired 37,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was bought at an average price of $25.27 per share, with a total value of $934,990.00. Following the purchase, the chief executive officer now directly owns 2,782,683 shares in the company, valued at approximately $70,318,399.41. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 40.10% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its holdings in Benefitfocus by 70.0% in the 2nd quarter. FMR LLC now owns 4,651,067 shares of the software maker’s stock worth $169,066,000 after acquiring an additional 1,914,954 shares during the period. Bamco Inc. NY boosted its holdings in Benefitfocus by 0.6% in the 2nd quarter. Bamco Inc. NY now owns 4,247,487 shares of the software maker’s stock worth $154,396,000 after acquiring an additional 24,954 shares during the period. Vanguard Group Inc. boosted its holdings in Benefitfocus by 11.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,238,539 shares of the software maker’s stock worth $45,021,000 after acquiring an additional 129,829 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Benefitfocus by 3.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 968,092 shares of the software maker’s stock worth $35,190,000 after acquiring an additional 28,491 shares during the period. Finally, Discovery Group I LLC boosted its holdings in Benefitfocus by 77.7% in the 3rd quarter. Discovery Group I LLC now owns 749,850 shares of the software maker’s stock worth $25,232,000 after acquiring an additional 327,845 shares during the period. 83.54% of the stock is owned by hedge funds and other institutional investors.
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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