Benefitfocus (BNFT) Price Target Raised to $58.00 at Raymond James

Benefitfocus (NASDAQ:BNFT) had its price objective upped by Raymond James from $50.00 to $58.00 in a research note issued to investors on Friday. Raymond James currently has an outperform rating on the software maker’s stock.

Several other analysts have also issued reports on the stock. BidaskClub lowered shares of Benefitfocus from a strong-buy rating to a buy rating in a research report on Tuesday, September 18th. Guggenheim assumed coverage on shares of Benefitfocus in a research report on Monday, August 20th. They set a buy rating and a $45.00 target price on the stock. ValuEngine upgraded shares of Benefitfocus from a buy rating to a strong-buy rating in a research report on Tuesday, November 6th. Jefferies Financial Group lifted their target price on shares of Benefitfocus to $48.00 and gave the company a buy rating in a research report on Friday, November 2nd. Finally, Chardan Capital lifted their target price on shares of Benefitfocus from $34.00 to $36.00 and gave the company a neutral rating in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Benefitfocus has an average rating of Buy and a consensus target price of $41.18.

NASDAQ:BNFT opened at $50.10 on Friday. Benefitfocus has a 1 year low of $21.75 and a 1 year high of $51.37.

Benefitfocus (NASDAQ:BNFT) last posted its earnings results on Thursday, November 1st. The software maker reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. The firm had revenue of $61.00 million during the quarter, compared to analyst estimates of $59.91 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts forecast that Benefitfocus will post -1.15 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Essex Investment Management Co. LLC lifted its holdings in Benefitfocus by 4.5% during the 3rd quarter. Essex Investment Management Co. LLC now owns 44,360 shares of the software maker’s stock valued at $1,794,000 after purchasing an additional 1,897 shares during the last quarter. American International Group Inc. lifted its holdings in Benefitfocus by 14.8% during the 3rd quarter. American International Group Inc. now owns 14,874 shares of the software maker’s stock valued at $602,000 after purchasing an additional 1,913 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in Benefitfocus by 59.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 6,581 shares of the software maker’s stock valued at $221,000 after purchasing an additional 2,453 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Benefitfocus by 4.8% during the 2nd quarter. Macquarie Group Ltd. now owns 54,479 shares of the software maker’s stock valued at $1,830,000 after purchasing an additional 2,505 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Benefitfocus by 84.9% during the 3rd quarter. Legal & General Group Plc now owns 5,861 shares of the software maker’s stock valued at $238,000 after purchasing an additional 2,691 shares during the last quarter. 93.39% 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.

Read More: The Structure of a Futures Contract

Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

Receive News & Ratings for Benefitfocus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Benefitfocus and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit