Brokerages Expect Benefitfocus, Inc. (NASDAQ:BNFT) Will Announce Quarterly Sales of $60.69 Million

Equities research analysts expect Benefitfocus, Inc. (NASDAQ:BNFTGet Rating) to post sales of $60.69 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Benefitfocus’ earnings, with the lowest sales estimate coming in at $60.47 million and the highest estimate coming in at $61.09 million. Benefitfocus posted sales of $65.06 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.7%. The business is expected to report its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Benefitfocus will report full year sales of $255.22 million for the current year, with estimates ranging from $253.71 million to $256.44 million. For the next fiscal year, analysts expect that the company will report sales of $265.63 million, with estimates ranging from $260.51 million to $269.27 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Benefitfocus.

Benefitfocus (NASDAQ:BNFTGet Rating) last issued its quarterly earnings results on Tuesday, March 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.18. The firm had revenue of $75.10 million for the quarter, compared to analyst estimates of $70.01 million. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year.

BNFT has been the topic of several research analyst reports. StockNews.com initiated coverage on Benefitfocus in a research report on Thursday, March 31st. They set a “buy” rating on the stock. JPMorgan Chase & Co. reduced their price objective on Benefitfocus from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, March 2nd. Finally, Zacks Investment Research raised Benefitfocus from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Friday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Benefitfocus presently has a consensus rating of “Hold” and a consensus target price of $13.00.

In other Benefitfocus news, major shareholder Indaba Capital Management, L.P bought 251,100 shares of the firm’s stock in a transaction dated Monday, March 21st. The stock was acquired at an average price of $11.33 per share, with a total value of $2,844,963.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alpana Wegner sold 2,375 shares of the firm’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $12.47, for a total value of $29,616.25. Following the completion of the sale, the chief financial officer now directly owns 229,568 shares of the company’s stock, valued at approximately $2,862,712.96. The disclosure for this sale can be found here. Over the last three months, insiders have bought 393,600 shares of company stock valued at $4,637,313 and have sold 8,214 shares valued at $103,198. Company insiders own 21.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Archon Capital Management LLC increased its stake in shares of Benefitfocus by 5.7% in the fourth quarter. Archon Capital Management LLC now owns 3,308,025 shares of the software maker’s stock worth $35,264,000 after purchasing an additional 179,613 shares during the period. Lynrock Lake LP increased its stake in shares of Benefitfocus by 90.8% in the fourth quarter. Lynrock Lake LP now owns 1,608,751 shares of the software maker’s stock worth $17,149,000 after purchasing an additional 765,545 shares during the period. Needham Investment Management LLC increased its stake in shares of Benefitfocus by 19.8% in the fourth quarter. Needham Investment Management LLC now owns 1,300,000 shares of the software maker’s stock worth $13,858,000 after purchasing an additional 215,000 shares during the period. Baillie Gifford & Co. grew its position in Benefitfocus by 7.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,013,175 shares of the software maker’s stock worth $10,801,000 after buying an additional 72,783 shares in the last quarter. Finally, VIEX Capital Advisors LLC acquired a new stake in Benefitfocus during the third quarter worth about $9,091,000. Institutional investors own 82.08% of the company’s stock.

Shares of BNFT stock opened at $11.47 on Friday. Benefitfocus has a 1 year low of $9.25 and a 1 year high of $15.20. The stock has a market cap of $384.44 million, a PE ratio of -9.89 and a beta of 1.66. The business’s fifty day moving average is $11.14 and its 200-day moving average is $10.85.

Benefitfocus Company Profile (Get Rating)

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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