Equities research analysts predict that Benefitfocus Inc (NASDAQ:BNFT) will announce sales of $71.22 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Benefitfocus’ earnings. The lowest sales estimate is $70.44 million and the highest is $72.43 million. Benefitfocus posted sales of $61.01 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.7%. The company is scheduled to report its next quarterly earnings report on Thursday, November 7th.
On average, analysts expect that Benefitfocus will report full-year sales of $303.96 million for the current fiscal year, with estimates ranging from $302.05 million to $306.59 million. For the next financial year, analysts forecast that the business will post sales of $355.74 million, with estimates ranging from $351.45 million to $370.27 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Benefitfocus.
Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings results on Tuesday, August 6th. The software maker reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.22. The company had revenue of $68.60 million during the quarter, compared to analysts’ expectations of $67.51 million. During the same period in the previous year, the company posted ($0.24) earnings per share. The company’s quarterly revenue was up 13.2% compared to the same quarter last year.
Several brokerages have recently issued reports on BNFT. Royal Bank of Canada decreased their target price on Benefitfocus to $49.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 1st. Raymond James reaffirmed an “outperform” rating and set a $30.00 target price (down from $50.00) on shares of Benefitfocus in a research report on Wednesday. JPMorgan Chase & Co. began coverage on Benefitfocus in a research report on Wednesday, July 3rd. They set a “neutral” rating and a $32.00 target price for the company. Zacks Investment Research raised Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Thursday, July 25th. Finally, ValuEngine lowered Benefitfocus from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $45.36.
In other Benefitfocus news, 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 transaction, the chief financial officer now owns 34,133 shares in the company, valued at approximately $917,836.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Raymond Alexander August bought 3,200 shares of the business’s stock in a transaction on Monday, May 13th. The stock was bought at an average price 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 disclosure for this purchase can be found here. 9.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BNFT. First Trust Advisors LP bought a new position in Benefitfocus in the 2nd quarter worth about $18,570,000. Frontier Capital Management Co. LLC boosted its stake in Benefitfocus by 41.9% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,637,000 shares of the software maker’s stock worth $81,064,000 after purchasing an additional 483,700 shares during the period. Rothschild & Co. Asset Management US Inc. bought a new position in Benefitfocus in the 1st quarter worth about $21,087,000. Laurion Capital Management LP bought a new position in Benefitfocus in the 1st quarter worth about $12,612,000. Finally, Marshall Wace LLP bought a new position in Benefitfocus in the 1st quarter worth about $11,546,000. Institutional investors and hedge funds own 99.04% of the company’s stock.
Shares of Benefitfocus stock traded up $1.27 during trading hours on Friday, hitting $24.76. 1,383,563 shares of the company’s stock traded hands, compared to its average volume of 531,084. Benefitfocus has a 12-month low of $22.82 and a 12-month high of $60.66. The stock has a market capitalization of $816.84 million, a PE ratio of -16.62 and a beta of 1.30. The stock’s fifty day moving average is $26.01.
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.
See Also: What is the balance sheet?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.