Benefitfocus (NASDAQ:BNFT) Rating Increased to Strong-Buy at BidaskClub

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Benefitfocus (NASDAQ:BNFT) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Wednesday, June 20th.

Several other research firms have also commented on BNFT. Wells Fargo & Co set a $38.00 target price on shares of Benefitfocus and gave the company a “buy” rating in a report on Wednesday, May 16th. ValuEngine raised shares of Benefitfocus from a “sell” rating to a “hold” rating in a report on Friday, May 4th. Zacks Investment Research raised shares of Benefitfocus from a “sell” rating to a “hold” rating and set a $39.00 target price on the stock in a report on Tuesday, May 15th. Berenberg Bank set a $35.00 price target on shares of Benefitfocus and gave the stock a “buy” rating in a research report on Friday, May 4th. Finally, Jefferies Financial Group boosted their price target on shares of Benefitfocus to $35.00 and gave the stock a “buy” rating in a research report on Friday, May 4th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $35.22.

Shares of BNFT stock opened at $33.60 on Wednesday. The company has a debt-to-equity ratio of -5.28, a current ratio of 1.09 and a quick ratio of 1.09. Benefitfocus has a one year low of $21.75 and a one year high of $36.95.

Benefitfocus (NASDAQ:BNFT) last posted its earnings results on Thursday, May 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.13. The company had revenue of $62.40 million for the quarter, compared to analyst estimates of $58.53 million. During the same quarter in the prior year, the business posted ($0.36) EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. sell-side analysts anticipate that Benefitfocus will post -1.2 EPS for the current year.

In related news, major shareholder Goldman Sachs Group Inc sold 2,500,000 shares of the stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $33.03, for a total transaction of $82,575,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of BNFT. Swiss National Bank lifted its holdings in Benefitfocus by 6.3% during the first quarter. Swiss National Bank now owns 27,200 shares of the software maker’s stock valued at $664,000 after purchasing an additional 1,600 shares during the last quarter. Gagnon Securities LLC lifted its holdings in Benefitfocus by 20.7% during the first quarter. Gagnon Securities LLC now owns 16,457 shares of the software maker’s stock valued at $402,000 after purchasing an additional 2,818 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Benefitfocus by 1.1% during the first quarter. Wells Fargo & Company MN now owns 313,355 shares of the software maker’s stock valued at $7,646,000 after purchasing an additional 3,332 shares during the last quarter. Royal Bank of Canada lifted its holdings in Benefitfocus by 13.2% during the first quarter. Royal Bank of Canada now owns 36,562 shares of the software maker’s stock valued at $892,000 after purchasing an additional 4,250 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in Benefitfocus by 70.8% during the first quarter. Aperio Group LLC now owns 15,139 shares of the software maker’s stock valued at $369,000 after purchasing an additional 6,275 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

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.

Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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