Benefitfocus Inc (NASDAQ:BNFT) Expected to Announce Quarterly Sales of $70.86 Million

Equities research analysts expect that Benefitfocus Inc (NASDAQ:BNFT) will report sales of $70.86 million for the current quarter, Zacks reports. Five analysts have made estimates for Benefitfocus’ earnings. The highest sales estimate is $71.29 million and the lowest is $70.29 million. Benefitfocus posted sales of $61.01 million in the same quarter last year, which suggests a positive year over year growth rate of 16.1%. The firm is expected to report its next earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Benefitfocus will report full year sales of $297.84 million for the current fiscal year, with estimates ranging from $294.96 million to $306.59 million. For the next fiscal year, analysts forecast that the business will post sales of $346.46 million, with estimates ranging from $325.96 million to $370.27 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last posted its earnings results on Tuesday, August 6th. The software maker reported ($0.42) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.22. The firm had revenue of $68.60 million during the quarter, compared to analyst estimates of $67.51 million. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the company posted ($0.24) EPS.

A number of research firms recently commented on BNFT. JPMorgan Chase & Co. began coverage on Benefitfocus in a research note on Wednesday, July 3rd. They set a “neutral” rating and a $32.00 price objective on the stock. Cantor Fitzgerald decreased their price objective on Benefitfocus from $60.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday. ValuEngine lowered Benefitfocus from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Royal Bank of Canada reaffirmed a “hold” rating and set a $46.00 price objective on shares of Benefitfocus in a research note on Thursday. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Benefitfocus in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $45.09.

Benefitfocus stock traded up $0.35 during trading hours on Friday, hitting $26.39. The stock had a trading volume of 295,632 shares, compared to its average volume of 529,236. The company has a market cap of $764.14 million, a PE ratio of -17.71 and a beta of 1.30. Benefitfocus has a 1-year low of $22.82 and a 1-year high of $60.66. The firm has a fifty day simple moving average of $25.89.

In other Benefitfocus news, insider Raymond Alexander August purchased 3,200 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $31.15 per share, with a total value of $99,680.00. Following the purchase, the insider now owns 511,925 shares in the company, valued at $15,946,463.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lou Anne Gilmore sold 1,019 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $26.89, for a total value of $27,400.91. Following the completion of the sale, the chief financial officer now directly owns 34,133 shares in the company, valued at $917,836.37. The disclosure for this sale can be found here. 29.00% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. Raymond James Trust N.A. boosted its stake in Benefitfocus by 4.3% in the 1st quarter. Raymond James Trust N.A. now owns 12,079 shares of the software maker’s stock worth $598,000 after buying an additional 500 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Benefitfocus by 211.2% in the 1st quarter. Meeder Asset Management Inc. now owns 803 shares of the software maker’s stock worth $40,000 after buying an additional 545 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Benefitfocus in the 4th quarter worth about $27,000. Swiss National Bank boosted its stake in Benefitfocus by 1.3% in the 2nd quarter. Swiss National Bank now owns 47,700 shares of the software maker’s stock worth $1,295,000 after buying an additional 600 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Benefitfocus by 19.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,760 shares of the software maker’s stock worth $236,000 after purchasing an additional 766 shares during the period. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Benefitfocus Company Profile

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, suppliers, and brokers in the United States. The company operates through Employer and Carrier segments. Its products for insurance carriers include BenefitsPlace, a transaction-oriented, marketplace solution; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution that bridges the integration gap between carrier and employer systems; eSales for carriers and brokers tools to organize and manage accounts, track leads, generate quotes, and create proposals for various products; and Core & Advanced Analytics, a data analytics solution.

Featured Article: Why is the Consumer Price Index (CPI) important?

Get a free copy of the Zacks research report on Benefitfocus (BNFT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

Receive News & Ratings for Benefitfocus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Benefitfocus and related companies with MarketBeat.com's FREE daily email newsletter.