Today: The Benefitfocus Inc. (NASDAQ:BNFT) Receives $48.38 Consensus Price Target from Analysts

The Benefitfocus Inc. (NASDAQ:BNFT) Receives $48.38 Consensus Price Target from Analysts

Benefitfocus Inc. (NASDAQ:BNFT) has been assigned a consensus rating of “Buy” from the ten analysts that are currently covering the company. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $48.38.

A number of equities research analysts recently issued reports on BNFT shares. Zacks Investment Research raised Benefitfocus from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Monday, August 8th. Canaccord Genuity reissued a “buy” rating and set a $48.00 price target on shares of Benefitfocus in a research note on Friday, August 5th. Jefferies Group raised their price target on Benefitfocus from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Deutsche Bank AG raised their price target on Benefitfocus from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $46.00 price target (up from $36.00) on shares of Benefitfocus in a research note on Monday, August 1st.

In other news, insider Mason R. Holland, Jr. sold 145,915 shares of Benefitfocus stock in a transaction on Monday, August 15th. The stock was sold at an average price of $42.18, for a total value of $6,154,694.70. Following the transaction, the insider now directly owns 22,537 shares in the company, valued at approximately $950,610.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Raymond Alexander August sold 16,408 shares of Benefitfocus stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $39.66, for a total value of $650,741.28. Following the completion of the transaction, the chief operating officer now owns 198,102 shares in the company, valued at $7,856,725.32. The disclosure for this sale can be found here. 45.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of Benefitfocus by 5.0% in the first quarter. State Street Corp now owns 139,272 shares of the company’s stock worth $4,644,000 after buying an additional 6,677 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Benefitfocus by 8.9% in the first quarter. Geode Capital Management LLC now owns 92,409 shares of the company’s stock worth $3,081,000 after buying an additional 7,523 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Benefitfocus during the first quarter worth about $939,000. Barclays PLC increased its position in shares of Benefitfocus by 180.7% in the first quarter. Barclays PLC now owns 13,410 shares of the company’s stock worth $442,000 after buying an additional 8,632 shares in the last quarter. Finally, RS Investment Management Co. LLC increased its position in shares of Benefitfocus by 1.1% in the second quarter. RS Investment Management Co. LLC now owns 1,137,461 shares of the company’s stock worth $43,360,000 after buying an additional 12,183 shares in the last quarter. Institutional investors and hedge funds own 78.96% of the company’s stock.

Shares of Benefitfocus (NASDAQ:BNFT) opened at 41.80 on Thursday. The company’s market capitalization is $1.24 billion. Benefitfocus has a 12-month low of $21.04 and a 12-month high of $44.98. The firm has a 50-day moving average price of $40.22 and a 200 day moving average price of $38.44.

Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.15. The company earned $57.90 million during the quarter, compared to the consensus estimate of $56.42 million. Benefitfocus’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.53) earnings per share. On average, equities research analysts predict that Benefitfocus will post ($0.95) earnings per share for the current year.

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