Wall Street brokerages expect that Benefitfocus, Inc. (NASDAQ:BNFT) will announce sales of $62.21 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Benefitfocus’ earnings. The lowest sales estimate is $62.00 million and the highest is $62.37 million. Benefitfocus posted sales of $57.87 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7.5%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, August 3rd.
On average, analysts expect that Benefitfocus will report full-year sales of $62.21 million for the current financial year, with estimates ranging from $264.10 million to $266.72 million. For the next fiscal year, analysts expect that the company will post sales of $314.87 million per share, with estimates ranging from $303.70 million to $322.91 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Benefitfocus.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Thursday, April 27th. The software maker reported ($0.25) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.02. The firm had revenue of $64.10 million for the quarter, compared to analyst estimates of $62.94 million. During the same quarter last year, the company earned ($0.29) earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year.
A number of analysts recently issued reports on BNFT shares. BidaskClub downgraded Benefitfocus from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Investment Research upgraded Benefitfocus from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday, June 28th. Chardan Capital lifted their target price on Benefitfocus from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, William Blair upgraded Benefitfocus from a “market perform” rating to an “outperform” rating in a report on Thursday, June 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $39.00.
Benefitfocus (NASDAQ BNFT) traded up 0.42% during midday trading on Friday, hitting $35.90. 264,990 shares of the stock traded hands. The company’s market capitalization is $1.11 billion. The stock’s 50-day moving average price is $35.76 and its 200 day moving average price is $30.96. Benefitfocus has a 52 week low of $24.55 and a 52 week high of $44.98.
Hedge funds have recently modified their holdings of the stock. Frontier Capital Management Co. LLC boosted its position in Benefitfocus by 46.1% in the first quarter. Frontier Capital Management Co. LLC now owns 2,101,828 shares of the software maker’s stock worth $58,746,000 after buying an additional 663,362 shares in the last quarter. Credit Suisse AG raised its position in Benefitfocus by 4,598.7% in the first quarter. Credit Suisse AG now owns 623,144 shares of the software maker’s stock valued at $17,416,000 after buying an additional 609,882 shares during the last quarter. Citadel Advisors LLC raised its position in Benefitfocus by 228.5% in the first quarter. Citadel Advisors LLC now owns 407,928 shares of the software maker’s stock valued at $11,401,000 after buying an additional 283,755 shares during the last quarter. FMR LLC raised its position in Benefitfocus by 10.4% in the first quarter. FMR LLC now owns 2,736,113 shares of the software maker’s stock valued at $76,475,000 after buying an additional 257,567 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Benefitfocus during the first quarter valued at about $4,995,000. Institutional investors own 83.40% of the company’s stock.
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About Benefitfocus
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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