Piper Jaffray Companies reissued their buy rating on shares of Benefitfocus, Inc. (NASDAQ:BNFT) in a report released on Friday morning. They currently have a $34.00 price objective on the software maker’s stock.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity reiterated a buy rating and issued a $34.00 target price on shares of Benefitfocus in a research report on Monday, October 30th. Zacks Investment Research upgraded Benefitfocus from a hold rating to a buy rating and set a $31.00 target price on the stock in a research report on Tuesday, August 8th. Berenberg Bank reiterated a buy rating and issued a $36.00 target price on shares of Benefitfocus in a research report on Thursday, August 10th. BidaskClub downgraded Benefitfocus from a buy rating to a hold rating in a research report on Monday, July 24th. Finally, William Blair downgraded Benefitfocus from an outperform rating to a market perform rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $38.67.

Shares of Benefitfocus (NASDAQ:BNFT) traded down $0.92 during trading on Friday, hitting $25.23. The stock had a trading volume of 682,692 shares, compared to its average volume of 181,400. Benefitfocus has a fifty-two week low of $22.30 and a fifty-two week high of $37.10. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of -2.53.

Benefitfocus (NASDAQ:BNFT) last posted its earnings results on Thursday, November 2nd. The software maker reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $62.45 million during the quarter, compared to analysts’ expectations of $62.19 million. Benefitfocus’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. equities research analysts anticipate that Benefitfocus will post -0.88 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of BNFT. Legal & General Group Plc increased its stake in Benefitfocus by 13.2% during the second quarter. Legal & General Group Plc now owns 3,593 shares of the software maker’s stock worth $130,000 after acquiring an additional 420 shares during the last quarter. Sei Investments Co. bought a new stake in Benefitfocus during the second quarter worth approximately $133,000. Aperio Group LLC bought a new stake in Benefitfocus during the second quarter worth approximately $222,000. American International Group Inc. increased its stake in Benefitfocus by 7.1% during the first quarter. American International Group Inc. now owns 7,926 shares of the software maker’s stock worth $222,000 after acquiring an additional 523 shares during the last quarter. Finally, ETRADE Capital Management LLC bought a new stake in Benefitfocus during the second quarter worth approximately $227,000. 85.42% of the stock is currently owned by institutional investors.

About Benefitfocus

Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through two business segments: Employer, which derives its revenue from customers that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.

Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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