Benefitfocus Inc (BNFT) Receives $42.10 Average Target Price from Brokerages

Benefitfocus Inc (NASDAQ:BNFT) has earned a consensus rating of “Buy” from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $42.10.

BNFT has been the subject of a number of recent research reports. ValuEngine cut Benefitfocus from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. BidaskClub cut Benefitfocus from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 18th. Raymond James lifted their target price on Benefitfocus from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, August 24th. Guggenheim initiated coverage on Benefitfocus in a report on Monday, August 20th. They issued a “buy” rating and a $45.00 target price for the company. Finally, Jefferies Financial Group lifted their target price on Benefitfocus to $48.00 and gave the stock a “buy” rating in a report on Friday, November 2nd.

In related news, Director Francis J. Pelzer sold 5,000 shares of the business’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $42.02, for a total transaction of $210,100.00. Following the completion of the transaction, the director now owns 19,275 shares in the company, valued at approximately $809,935.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 5,750 shares of company stock valued at $241,390. 29.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of BNFT. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Benefitfocus during the 3rd quarter valued at $185,000. Ibex Investors LLC purchased a new position in Benefitfocus during the 3rd quarter valued at $206,000. Vanguard Capital Wealth Advisors purchased a new position in Benefitfocus during the 3rd quarter valued at $210,000. Metropolitan Life Insurance Co. NY boosted its holdings in Benefitfocus by 59.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 6,581 shares of the software maker’s stock valued at $221,000 after acquiring an additional 2,453 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Benefitfocus by 84.9% during the 3rd quarter. Legal & General Group Plc now owns 5,861 shares of the software maker’s stock valued at $238,000 after acquiring an additional 2,691 shares during the period. Institutional investors own 93.39% of the company’s stock.

Shares of Benefitfocus stock traded up $0.18 on Thursday, reaching $43.25. The company had a trading volume of 154,026 shares, compared to its average volume of 301,794. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -54.75 and a beta of 1.16. Benefitfocus has a 1 year low of $21.75 and a 1 year high of $45.88.

Benefitfocus (NASDAQ:BNFT) last announced its earnings results on Thursday, November 1st. The software maker reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.05. The company had revenue of $61.00 million during the quarter, compared to analysts’ expectations of $59.91 million. Benefitfocus’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. Equities analysts expect that Benefitfocus will post -1.15 EPS for the current year.

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.

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Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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