Benefitfocus Inc (NASDAQ:BNFT) Expected to Post Earnings of -$0.16 Per Share

Equities analysts expect that Benefitfocus Inc (NASDAQ:BNFT) will report earnings of ($0.16) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Benefitfocus’ earnings, with estimates ranging from ($0.18) to ($0.15). Benefitfocus reported earnings per share of ($0.23) during the same quarter last year, which indicates a positive year-over-year growth rate of 30.4%. The business is scheduled to announce its next earnings results on Wednesday, November 4th.

According to Zacks, analysts expect that Benefitfocus will report full year earnings of ($0.50) per share for the current year, with EPS estimates ranging from ($0.55) to ($0.44). For the next fiscal year, analysts forecast that the company will report earnings of ($0.23) per share, with EPS estimates ranging from ($0.38) to ($0.07). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Wednesday, August 5th. The software maker reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.11. The firm had revenue of $62.17 million for the quarter, compared to the consensus estimate of $55.73 million.

BNFT has been the topic of a number of research reports. Piper Sandler lifted their price target on shares of Benefitfocus from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. BidaskClub upgraded shares of Benefitfocus from a “sell” rating to a “hold” rating in a report on Thursday. Goldman Sachs Group boosted their target price on shares of Benefitfocus from $11.00 to $12.00 in a report on Monday, June 29th. Raymond James restated a “buy” rating on shares of Benefitfocus in a report on Monday, August 24th. Finally, Zacks Investment Research cut shares of Benefitfocus from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $25.13.

A number of institutional investors have recently added to or reduced their stakes in BNFT. Envestnet Asset Management Inc. boosted its position in Benefitfocus by 30.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 13,153 shares of the software maker’s stock valued at $117,000 after buying an additional 3,104 shares during the period. Aperio Group LLC lifted its position in shares of Benefitfocus by 259.9% in the 1st quarter. Aperio Group LLC now owns 55,943 shares of the software maker’s stock worth $498,000 after purchasing an additional 40,401 shares during the period. Rhumbline Advisers lifted its position in shares of Benefitfocus by 4.5% in the 1st quarter. Rhumbline Advisers now owns 93,565 shares of the software maker’s stock worth $834,000 after purchasing an additional 4,059 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Benefitfocus in the 1st quarter worth approximately $296,000. Finally, First Trust Advisors LP lifted its position in shares of Benefitfocus by 4.4% in the 1st quarter. First Trust Advisors LP now owns 728,443 shares of the software maker’s stock worth $6,490,000 after purchasing an additional 30,918 shares during the period. 85.99% of the stock is owned by institutional investors.

NASDAQ BNFT traded up $0.19 on Tuesday, reaching $11.34. The company had a trading volume of 677,214 shares, compared to its average volume of 520,042. The stock has a market capitalization of $365.84 million, a PE ratio of -9.30 and a beta of 1.61. The firm’s 50 day moving average price is $10.99 and its 200 day moving average price is $10.67. Benefitfocus has a 12 month low of $6.09 and a 12 month high of $25.50.

About Benefitfocus

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.

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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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