Benefitfocus, Inc. (NASDAQ:BNFT) Expected to Announce Quarterly Sales of $59.21 Million

Equities analysts predict that Benefitfocus, Inc. (NASDAQ:BNFT) will post sales of $59.21 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Benefitfocus’ earnings, with the lowest sales estimate coming in at $58.95 million and the highest estimate coming in at $59.93 million. Benefitfocus posted sales of $62.17 million during the same quarter last year, which suggests a negative year-over-year growth rate of 4.8%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, August 3rd.

According to Zacks, analysts expect that Benefitfocus will report full-year sales of $257.96 million for the current financial year, with estimates ranging from $256.78 million to $259.50 million. For the next financial year, analysts expect that the business will post sales of $267.14 million, with estimates ranging from $257.60 million to $272.54 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last issued its earnings results on Monday, May 3rd. The software maker reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.12. The firm had revenue of $65.06 million for the quarter, compared to analysts’ expectations of $60.10 million. During the same period last year, the firm earned ($0.21) earnings per share. Benefitfocus’s revenue for the quarter was down 1.6% on a year-over-year basis.

A number of equities research analysts have weighed in on BNFT shares. Zacks Investment Research cut shares of Benefitfocus from a “buy” rating to a “hold” rating in a research report on Wednesday, July 7th. The Goldman Sachs Group cut shares of Benefitfocus from a “neutral” rating to a “sell” rating and set a $13.00 price target for the company. in a research report on Thursday, June 3rd. TheStreet cut shares of Benefitfocus from a “c-” rating to a “d” rating in a research report on Wednesday, May 5th. Finally, Piper Sandler lifted their price objective on shares of Benefitfocus from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, May 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $14.50.

Several hedge funds have recently made changes to their positions in BNFT. VIEX Capital Advisors LLC acquired a new position in shares of Benefitfocus in the fourth quarter valued at approximately $6,250,000. Norges Bank acquired a new position in Benefitfocus during the 4th quarter worth approximately $3,643,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Benefitfocus during the 4th quarter worth approximately $1,756,000. Renaissance Technologies LLC grew its holdings in Benefitfocus by 857.2% during the 4th quarter. Renaissance Technologies LLC now owns 111,554 shares of the software maker’s stock worth $1,615,000 after acquiring an additional 99,900 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Benefitfocus by 3.9% during the 1st quarter. BlackRock Inc. now owns 2,417,385 shares of the software maker’s stock worth $33,384,000 after acquiring an additional 90,386 shares in the last quarter. Hedge funds and other institutional investors own 80.08% of the company’s stock.

Shares of BNFT traded down $0.09 during trading on Monday, reaching $13.23. 182 shares of the company traded hands, compared to its average volume of 325,807. Benefitfocus has a twelve month low of $9.36 and a twelve month high of $17.58. The firm has a market cap of $438.97 million, a PE ratio of -20.81 and a beta of 1.76. The business’s 50-day moving average is $13.93.

Benefitfocus Company Profile

Benefitfocus, Inc provides cloud-based benefits management technology solutions for employers and health plans in the United States. Its products for employers comprise Benefitplace, a cloud-based benefits management portal that streamlines online enrollment, employee communication, and benefit administration; Health Insights, a data analytics solution; ACA Management and Reporting, a solution for employers to manage ACA compliance; Billing & Payments, an application that synchronizes enrollment and billing information to streamline the monthly billing process, automate adjustments, and enhance accuracy of payments; and COBRA Administration, a solution that simplifies management of Consolidated Omnibus Budget Reconciliation Act, benefits.

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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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