$67.43 Million in Sales Expected for Benefitfocus Inc (NASDAQ:BNFT) This Quarter

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Analysts expect Benefitfocus Inc (NASDAQ:BNFT) to post $67.43 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Benefitfocus’ earnings. The lowest sales estimate is $66.64 million and the highest is $68.04 million. Benefitfocus posted sales of $60.58 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.3%. The business is expected to announce its next earnings results on Thursday, August 1st.

On average, analysts expect that Benefitfocus will report full-year sales of $303.89 million for the current fiscal year, with estimates ranging from $302.05 million to $306.59 million. For the next year, analysts expect that the firm will post sales of $355.61 million, with estimates ranging from $351.45 million to $370.27 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Wednesday, May 1st. The software maker reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.01). The company had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.77 million. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.26) EPS.

Several research analysts have weighed in on BNFT shares. JPMorgan Chase & Co. upped their price target on from GBX 385 ($5.03) to GBX 480 ($6.27) and gave the stock an “overweight” rating in a research note on Wednesday, July 3rd. BidaskClub downgraded Zynga from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Royal Bank of Canada upped their price target on Shopify from C$230.00 to C$265.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Zacks Investment Research downgraded First Merchants from a “hold” rating to a “sell” rating in a research note on Monday, July 1st. Finally, Wells Fargo & Co restated a “hold” rating and issued a $70.00 price target on shares of Church & Dwight in a research note on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Benefitfocus currently has a consensus rating of “Hold” and a consensus price target of $51.92.

In other news, insider Raymond Alexander August bought 3,200 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $31.15 per share, for a total transaction of $99,680.00. Following the transaction, the insider now owns 511,925 shares of the company’s stock, valued at $15,946,463.75. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Lou Anne Gilmore sold 1,019 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $26.89, for a total value of $27,400.91. Following the transaction, the chief financial officer now owns 34,133 shares of the company’s stock, valued at $917,836.37. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. raised its holdings in Benefitfocus by 4.3% during the 1st quarter. Raymond James Trust N.A. now owns 12,079 shares of the software maker’s stock valued at $598,000 after buying an additional 500 shares during the period. Meeder Asset Management Inc. raised its holdings in Benefitfocus by 211.2% during the 1st quarter. Meeder Asset Management Inc. now owns 803 shares of the software maker’s stock valued at $40,000 after buying an additional 545 shares during the period. Advisory Services Network LLC purchased a new stake in Benefitfocus during the 4th quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Benefitfocus by 19.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,760 shares of the software maker’s stock valued at $236,000 after buying an additional 766 shares during the period. Finally, First Mercantile Trust Co. raised its holdings in Benefitfocus by 13.5% during the 1st quarter. First Mercantile Trust Co. now owns 11,039 shares of the software maker’s stock valued at $547,000 after buying an additional 1,310 shares during the period. Institutional investors own 98.58% of the company’s stock.

BNFT stock traded up $1.80 during midday trading on Friday, hitting $26.80. The company’s stock had a trading volume of 680,696 shares, compared to its average volume of 539,630. Benefitfocus has a 12 month low of $24.54 and a 12 month high of $60.66. The company has a market capitalization of $871.80 million, a price-to-earnings ratio of -17.99 and a beta of 1.35. The business has a 50 day moving average price of $26.65.

Benefitfocus Company Profile

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.

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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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