Analysts Expect Benefitfocus, Inc. (NASDAQ:BNFT) Will Announce Quarterly Sales of $56.64 Million

Equities research analysts expect Benefitfocus, Inc. (NASDAQ:BNFTGet Rating) to post sales of $56.64 million for the current quarter, Zacks reports. Two analysts have made estimates for Benefitfocus’ earnings, with the highest sales estimate coming in at $56.76 million and the lowest estimate coming in at $56.51 million. Benefitfocus posted sales of $60.90 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 7%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Benefitfocus will report full-year sales of $255.00 million for the current financial year, with estimates ranging from $254.98 million to $255.02 million. For the next fiscal year, analysts forecast that the company will report sales of $263.70 million, with estimates ranging from $259.98 million to $267.42 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Benefitfocus.

Benefitfocus (NASDAQ:BNFTGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The software maker reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.18. The company had revenue of $61.20 million during the quarter, compared to the consensus estimate of $60.74 million. The business’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) earnings per share.

BNFT has been the topic of a number of research analyst reports. Zacks Investment Research lowered Benefitfocus from a “buy” rating to a “hold” rating in a research report on Monday. StockNews.com assumed coverage on Benefitfocus in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. reduced their target price on Benefitfocus from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, March 2nd.

Benefitfocus stock opened at $8.12 on Friday. Benefitfocus has a 12-month low of $7.63 and a 12-month high of $15.20. The business’s 50-day simple moving average is $11.18 and its 200 day simple moving average is $10.78. The stock has a market cap of $275.78 million, a price-to-earnings ratio of -6.94 and a beta of 1.65.

In related news, CFO Alpana Wegner sold 5,811 shares of Benefitfocus stock in a transaction on Monday, April 4th. The stock was sold at an average price of $12.61, for a total transaction of $73,276.71. Following the sale, the chief financial officer now directly owns 229,568 shares in the company, valued at $2,894,852.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Levin sold 37,154 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $8.59, for a total value of $319,152.86. Following the completion of the sale, the chief executive officer now directly owns 511,336 shares of the company’s stock, valued at $4,392,376.24. The disclosure for this sale can be found here. In the last quarter, insiders acquired 393,600 shares of company stock worth $4,637,313 and sold 46,113 shares worth $430,363. Insiders own 21.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Counterpoint Mutual Funds LLC bought a new position in shares of Benefitfocus in the fourth quarter worth approximately $27,000. Metropolitan Life Insurance Co NY raised its position in Benefitfocus by 80.7% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 6,722 shares of the software maker’s stock worth $75,000 after buying an additional 3,003 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Benefitfocus by 179.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,619 shares of the software maker’s stock worth $85,000 after buying an additional 4,891 shares during the last quarter. Citigroup Inc. grew its stake in shares of Benefitfocus by 96.5% during the 4th quarter. Citigroup Inc. now owns 8,695 shares of the software maker’s stock valued at $93,000 after purchasing an additional 4,269 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Benefitfocus by 369.4% during the 4th quarter. MetLife Investment Management LLC now owns 8,909 shares of the software maker’s stock valued at $95,000 after purchasing an additional 7,011 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

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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