Benefitfocus, Inc. (NASDAQ:BNFT) Expected to Post Quarterly Sales of $59.00 Million

Analysts expect that Benefitfocus, Inc. (NASDAQ:BNFT) will post $59.00 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Benefitfocus’ earnings, with the highest sales estimate coming in at $59.99 million and the lowest estimate coming in at $58.19 million. Benefitfocus posted sales of $63.58 million during the same quarter last year, which would indicate a negative year over year growth rate of 7.2%. The business is scheduled to report its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Benefitfocus will report full year sales of $257.84 million for the current year, with estimates ranging from $256.54 million to $260.35 million. For the next financial year, analysts forecast that the business will report sales of $255.88 million, with estimates ranging from $249.13 million to $263.89 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings results on Monday, August 2nd. The software maker reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.05).

BNFT has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Benefitfocus from a “hold” rating to a “sell” rating in a research report on Wednesday, August 4th. The Goldman Sachs Group downgraded Benefitfocus from a “neutral” rating to a “sell” rating and set a $13.00 price objective for the company. in a research report on Thursday, June 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.50.

In other Benefitfocus news, CFO Alpana Wegner sold 2,354 shares of the business’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $12.01, for a total transaction of $28,271.54. Following the completion of the sale, the chief financial officer now owns 100,727 shares of the company’s stock, valued at $1,209,731.27. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY lifted its stake in shares of Benefitfocus by 46,387.5% during the second quarter. Metropolitan Life Insurance Co NY now owns 3,719 shares of the software maker’s stock worth $52,000 after purchasing an additional 3,711 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Benefitfocus by 161.9% during the second quarter. MetLife Investment Management LLC now owns 9,309 shares of the software maker’s stock worth $131,000 after purchasing an additional 5,755 shares in the last quarter. KB Financial Partners LLC acquired a new position in shares of Benefitfocus during the second quarter worth about $132,000. Paloma Partners Management Co acquired a new position in shares of Benefitfocus during the first quarter worth about $155,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Benefitfocus in the first quarter worth about $190,000. Institutional investors own 83.31% of the company’s stock.

Benefitfocus stock opened at $10.94 on Wednesday. The company has a market capitalization of $364.81 million, a price-to-earnings ratio of -14.39 and a beta of 1.71. Benefitfocus has a fifty-two week low of $9.42 and a fifty-two week high of $17.58. The stock has a fifty day moving average of $12.27 and a two-hundred day moving average of $13.47.

About Benefitfocus

Benefitfocus, Inc engages in the provision of cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers. The company was founded by Mason R. Holland and Shawn A. Jenkins in June 2000 and is headquartered in Charleston, SC.

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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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