News coverage about Benefitfocus (NASDAQ:BNFT) has been trending somewhat positive recently, according to AlphaOne Sentiment. The research firm, a subsidiary of Accern, identifies positive and negative press coverage by reviewing more than 20 million news and blog sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Benefitfocus earned a coverage optimism score of 0.12 on AlphaOne’s scale. AlphaOne also assigned news stories about the software maker an impact score of 72 out of 100, meaning that recent press coverage is likely to have an impact on the stock’s share price in the next several days.
Several equities analysts have commented on the company. Chardan Capital reissued a “buy” rating and set a $31.00 price objective on shares of Benefitfocus in a research report on Wednesday, March 15th. William Blair raised Benefitfocus from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $33.00 price target on shares of Benefitfocus in a research report on Thursday, March 16th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $33.00 price target on shares of Benefitfocus in a research report on Friday, February 24th. Finally, Zacks Investment Research lowered Benefitfocus from a “hold” rating to a “sell” rating in a research report on Thursday, February 23rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.88.
Benefitfocus (BNFT) remained flat at $36.25 during midday trading on Friday. The stock had a trading volume of 196,346 shares. The firm’s market capitalization is $1.13 billion. Benefitfocus has a 12-month low of $24.55 and a 12-month high of $44.98. The company’s 50-day moving average price is $32.87 and its 200-day moving average price is $29.75.
Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings results on Thursday, April 27th. The software maker reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. The business had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $62.94 million. During the same quarter last year, the business posted ($0.29) earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that Benefitfocus will post ($0.32) earnings per share for the current fiscal year.
In other Benefitfocus news, insider James P. Restivo sold 2,193 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $27.28, for a total value of $59,825.04. Following the completion of the sale, the insider now directly owns 51,401 shares in the company, valued at $1,402,219.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 40.10% of the company’s stock.
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Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through two business segments: Employer, which derives its revenue from customers that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.
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