Benefitfocus, Inc. (BNFT) Issues Quarterly Earnings Results
Benefitfocus, Inc. (NASDAQ:BNFT) issued its quarterly earnings results on Thursday. The software maker reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.08, Bloomberg Earnings reports. The business had revenue of $62.45 million for the quarter, compared to the consensus estimate of $62.19 million. During the same period last year, the firm earned ($0.14) earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Benefitfocus updated its Q4 guidance to ($0.08-0.05) EPS.
BNFT has been the topic of several analyst reports. BidaskClub cut shares of Benefitfocus from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Raymond James Financial, Inc. boosted their price target on shares of Benefitfocus from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 target price on shares of Benefitfocus in a report on Tuesday, August 1st. Zacks Investment Research cut shares of Benefitfocus from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Chardan Capital cut shares of Benefitfocus from a “buy” rating to a “neutral” rating and dropped their target price for the company from $36.00 to $30.00 in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $39.67.
Benefitfocus Company Profile
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.
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