-$0.13 EPS Expected for Benefitfocus, Inc. (NASDAQ:BNFT) This Quarter

Wall Street analysts expect Benefitfocus, Inc. (NASDAQ:BNFT) to announce ($0.13) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Benefitfocus’ earnings, with the lowest EPS estimate coming in at ($0.17) and the highest estimate coming in at ($0.09). Benefitfocus reported earnings per share of ($0.26) during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The company is scheduled to report its next earnings report after the market closes on Tuesday, August 3rd.

According to Zacks, analysts expect that Benefitfocus will report full year earnings of ($0.21) per share for the current year, with EPS estimates ranging from ($0.30) to ($0.15). For the next financial year, analysts expect that the firm will report earnings of ($0.11) per share, with EPS estimates ranging from ($0.30) to ($0.03). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings results on Monday, May 3rd. The software maker reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.12. The company had revenue of $65.06 million during the quarter, compared to analysts’ expectations of $60.10 million. During the same quarter last year, the firm posted ($0.21) earnings per share. Benefitfocus’s revenue for the quarter was down 1.6% compared to the same quarter last year.

Several equities analysts recently commented on the company. The Goldman Sachs Group cut Benefitfocus from a “neutral” rating to a “sell” rating and set a $13.00 target price for the company. in a research report on Thursday, June 3rd. Piper Sandler lifted their price target on Benefitfocus from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 5th. Zacks Investment Research lowered Benefitfocus from a “buy” rating to a “hold” rating in a research note on Wednesday, July 7th. Finally, TheStreet lowered Benefitfocus from a “c-” rating to a “d” rating in a research note on Wednesday, May 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $14.50.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paloma Partners Management Co bought a new position in Benefitfocus during the 1st quarter valued at approximately $155,000. Arrowstreet Capital Limited Partnership bought a new position in Benefitfocus during the 1st quarter valued at approximately $190,000. Needham Investment Management LLC bought a new position in Benefitfocus during the 4th quarter valued at approximately $217,000. Monticello Wealth Management LLC bought a new position in Benefitfocus during the 1st quarter valued at approximately $221,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Benefitfocus by 15.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 16,315 shares of the software maker’s stock worth $225,000 after acquiring an additional 2,229 shares during the period. 80.08% of the stock is owned by institutional investors.

Benefitfocus stock traded down $0.09 during midday trading on Friday, hitting $13.23. 182 shares of the company’s stock were exchanged, compared to its average volume of 325,807. Benefitfocus has a 52-week low of $9.36 and a 52-week high of $17.58. The stock’s 50-day moving average price is $13.93. The firm has a market capitalization of $438.97 million, a P/E ratio of -20.81 and a beta of 1.76.

About Benefitfocus

Benefitfocus, Inc provides cloud-based benefits management technology solutions for employers and health plans in the United States. Its products for employers comprise Benefitplace, a cloud-based benefits management portal that streamlines online enrollment, employee communication, and benefit administration; Health Insights, a data analytics solution; ACA Management and Reporting, a solution for employers to manage ACA compliance; Billing & Payments, an application that synchronizes enrollment and billing information to streamline the monthly billing process, automate adjustments, and enhance accuracy of payments; and COBRA Administration, a solution that simplifies management of Consolidated Omnibus Budget Reconciliation Act, benefits.

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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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