Brokerages Expect Benefitfocus (BNFT) Will Announce Quarterly Sales of $56.67 Million

Wall Street analysts expect Benefitfocus (NASDAQ:BNFT) to post $56.67 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Benefitfocus’ earnings. The highest sales estimate is $56.86 million and the lowest is $56.55 million. Benefitfocus posted sales of $63.35 million during the same quarter last year, which suggests a negative year over year growth rate of 10.5%. The company is expected to announce its next quarterly earnings results on Thursday, August 2nd.

According to Zacks, analysts expect that Benefitfocus will report full year sales of $254.11 million for the current financial year, with estimates ranging from $253.10 million to $255.40 million. For the next financial year, analysts forecast that the firm will report sales of $286.11 million per share, with estimates ranging from $278.77 million to $295.20 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings results on Thursday, May 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.13. The company had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $58.53 million. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.36) EPS.

A number of research analysts have issued reports on BNFT shares. BidaskClub raised shares of Benefitfocus from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Berenberg Bank set a $35.00 price target on shares of Benefitfocus and gave the stock a “buy” rating in a report on Friday, May 4th. Jefferies Group reaffirmed a “buy” rating and issued a $31.00 price target on shares of Benefitfocus in a report on Thursday, March 22nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $29.00 price target (down previously from $32.00) on shares of Benefitfocus in a report on Thursday, March 15th. Finally, Chardan Capital decreased their price target on shares of Benefitfocus from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, March 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $32.67.

Shares of NASDAQ BNFT traded down $0.80 during midday trading on Friday, reaching $33.20. The company had a trading volume of 6,631 shares, compared to its average volume of 278,501. The stock has a market cap of $1.09 billion, a P/E ratio of -42.78 and a beta of 0.90. Benefitfocus has a 1 year low of $33.00 and a 1 year high of $34.20. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of -5.28.

In other Benefitfocus news, Director A Lanham Napier bought 3,985 shares of Benefitfocus stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $25.16 per share, with a total value of $100,262.60. Following the completion of the acquisition, the director now directly owns 25,497 shares in the company, valued at approximately $641,504.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 29.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Swiss National Bank raised its holdings in shares of Benefitfocus by 6.3% during the first quarter. Swiss National Bank now owns 27,200 shares of the software maker’s stock worth $664,000 after purchasing an additional 1,600 shares during the last quarter. Gagnon Securities LLC raised its holdings in shares of Benefitfocus by 20.7% during the first quarter. Gagnon Securities LLC now owns 16,457 shares of the software maker’s stock worth $402,000 after purchasing an additional 2,818 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Benefitfocus by 1.1% during the first quarter. Wells Fargo & Company MN now owns 313,355 shares of the software maker’s stock worth $7,646,000 after purchasing an additional 3,332 shares during the last quarter. Peregrine Capital Management LLC raised its holdings in shares of Benefitfocus by 0.6% during the fourth quarter. Peregrine Capital Management LLC now owns 644,503 shares of the software maker’s stock worth $17,402,000 after purchasing an additional 4,033 shares during the last quarter. Finally, Aperio Group LLC raised its holdings in shares of Benefitfocus by 70.8% during the first quarter. Aperio Group LLC now owns 15,139 shares of the software maker’s stock worth $369,000 after purchasing an additional 6,275 shares during the last quarter. 86.49% of the stock is owned by hedge funds and other institutional investors.

Benefitfocus Company Profile

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.

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