BidaskClub upgraded shares of Benefitfocus (NASDAQ:BNFT) from a sell rating to a hold rating in a research report report published on Saturday morning, BidAskClub reports.

Several other brokerages also recently issued reports on BNFT. Cantor Fitzgerald lowered their price target on Benefitfocus from $60.00 to $47.00 and set an overweight rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Co reaffirmed a buy rating on shares of Benefitfocus in a research report on Wednesday, August 7th. Raymond James set a $30.00 price target on Benefitfocus and gave the company an outperform rating in a research report on Wednesday, August 7th. ValuEngine downgraded Benefitfocus from a buy rating to a hold rating in a research report on Thursday, May 9th. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $46.00 price target on shares of Benefitfocus in a research report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Benefitfocus currently has a consensus rating of Buy and a consensus price target of $45.09.

NASDAQ BNFT opened at $27.25 on Friday. Benefitfocus has a fifty-two week low of $22.82 and a fifty-two week high of $60.66. The company’s 50-day moving average is $25.89. The company has a market capitalization of $862.87 million, a price-to-earnings ratio of -18.29 and a beta of 1.30.

Benefitfocus (NASDAQ:BNFT) last posted its earnings results on Tuesday, August 6th. The software maker reported ($0.42) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.22. The company had revenue of $68.60 million for the quarter, compared to the consensus estimate of $67.51 million. During the same quarter last year, the business earned ($0.24) earnings per share. Benefitfocus’s quarterly revenue was up 13.2% on a year-over-year basis. Equities analysts anticipate that Benefitfocus will post -1.44 earnings per share for the current year.

In related news, CFO Lou Anne Gilmore sold 1,019 shares of Benefitfocus stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $26.89, for a total transaction of $27,400.91. Following the sale, the chief financial officer now directly owns 34,133 shares of the company’s stock, valued at $917,836.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 9.70% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Gagnon Securities LLC grew its position in Benefitfocus by 1.9% during the second quarter. Gagnon Securities LLC now owns 25,181 shares of the software maker’s stock worth $684,000 after buying an additional 480 shares in the last quarter. Raymond James Trust N.A. grew its position in Benefitfocus by 4.3% during the first quarter. Raymond James Trust N.A. now owns 12,079 shares of the software maker’s stock worth $598,000 after buying an additional 500 shares in the last quarter. Meeder Asset Management Inc. grew its position in Benefitfocus by 211.2% during the first quarter. Meeder Asset Management Inc. now owns 803 shares of the software maker’s stock worth $40,000 after buying an additional 545 shares in the last quarter. Swiss National Bank grew its position in Benefitfocus by 1.3% during the second quarter. Swiss National Bank now owns 47,700 shares of the software maker’s stock worth $1,295,000 after buying an additional 600 shares in the last quarter. Finally, First Mercantile Trust Co. grew its position in Benefitfocus by 6.1% during the second quarter. First Mercantile Trust Co. now owns 11,707 shares of the software maker’s stock worth $318,000 after buying an additional 668 shares in the last quarter.

About Benefitfocus

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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Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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