Benefitfocus (NASDAQ:BNFT) had its target price boosted by investment analysts at Goldman Sachs Group from $11.00 to $12.00 in a research note issued to investors on Monday, The Fly reports. Goldman Sachs Group’s price objective points to a potential upside of 12.36% from the stock’s current price.
BNFT has been the subject of a number of other reports. Raymond James reduced their target price on shares of Benefitfocus from $25.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Zacks Investment Research raised Benefitfocus from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, June 23rd. BidaskClub raised Benefitfocus from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 27th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Benefitfocus in a report on Thursday, April 2nd. Finally, Piper Sandler dropped their price target on Benefitfocus from $35.00 to $26.00 in a research note on Thursday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Benefitfocus presently has a consensus rating of “Buy” and a consensus target price of $27.09.
Shares of BNFT stock opened at $10.68 on Monday. The stock has a 50-day simple moving average of $11.45 and a 200 day simple moving average of $14.02. Benefitfocus has a fifty-two week low of $6.09 and a fifty-two week high of $28.25. The stock has a market capitalization of $332.63 million, a P/E ratio of -8.22 and a beta of 1.57.
Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.05. The business had revenue of $66.15 million during the quarter, compared to the consensus estimate of $65.96 million. Benefitfocus’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) earnings per share. Sell-side analysts expect that Benefitfocus will post -1.04 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in BNFT. ArrowMark Colorado Holdings LLC increased its holdings in shares of Benefitfocus by 43.4% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 2,987,357 shares of the software maker’s stock valued at $26,617,000 after purchasing an additional 903,693 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in shares of Benefitfocus by 48.0% during the first quarter. Frontier Capital Management Co. LLC now owns 1,649,500 shares of the software maker’s stock worth $14,697,000 after purchasing an additional 535,330 shares during the period. Nuveen Asset Management LLC grew its position in Benefitfocus by 149.0% during the fourth quarter. Nuveen Asset Management LLC now owns 507,914 shares of the software maker’s stock valued at $11,144,000 after purchasing an additional 303,913 shares in the last quarter. Two Sigma Investments LP increased its stake in Benefitfocus by 56.0% in the 1st quarter. Two Sigma Investments LP now owns 499,050 shares of the software maker’s stock valued at $4,447,000 after buying an additional 179,156 shares during the period. Finally, Fred Alger Management LLC increased its stake in Benefitfocus by 199.6% in the 4th quarter. Fred Alger Management LLC now owns 246,026 shares of the software maker’s stock valued at $5,398,000 after buying an additional 163,899 shares during the period. Hedge funds and other institutional investors own 88.33% of the company’s stock.
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.
Further Reading: What is a stock portfolio tracker?
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.