In yesterday’s Wall Street session, Benefitfocus Inc. (NASDAQ:BNFT) shares traded at $10.50, up 0.10% from the previous session.
As of this writing, 3 analysts cover Benefitfocus Inc. (NASDAQ:BNFT). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $10.50 and a low of $10.50, we find $10.50. Given the previous closing price of $10.49, this indicates a potential upside of 0.1 percent. BNFT stock price is now 0.75% away from the 50-day moving average and 19.10% away from the 200-day moving average. The market capitalization of the company currently stands at $362.04M.
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There are 3 analysts who have given it a hold rating, whereas 0 have given it a buy rating. Brokers who have rated the stock have averaged $10.50 as their price target over the next twelve months.
On September 16, 2022, KeyBanc Capital Markets recently initiated its ‘Overweight’ rating on the stock quoting a target price of $10, while ‘Piper Sandler’ rates the stock as ‘Neutral’.
In other news, Wegner Alpana, Chief Financial Officer sold 352 shares of the company’s stock on Nov 01. The stock was sold for $2,462 at an average price of $6.99. Upon completion of the transaction, the Chief Financial Officer now directly owns 460,945 shares in the company, valued at $4.84 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 02, Chief Financial Officer Wegner Alpana sold 3,622 shares of the business’s stock. A total of $23,885 was realized by selling the stock at an average price of $6.59. This leaves the insider owning 222,577 shares of the company worth $2.34 million. Insiders disposed of 1,251,723 shares of company stock worth roughly $13.14 million over the past 1 year. A total of 4.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BNFT stock. A new stake in Benefitfocus Inc. shares was purchased by ATRIA WEALTH SOLUTIONS, INC. during the first quarter worth $153,000. VONTOBEL HOLDING LTD. invested $152,000 in shares of BNFT during the first quarter. In the first quarter, WOLVERINE TRADING, LLC acquired a new stake in Benefitfocus Inc. valued at approximately $138,000. CAPTION MANAGEMENT, LLC acquired a new stake in BNFT for approximately $98,000. GLADIUS CAPITAL MANAGEMENT LP purchased a new stake in BNFT valued at around $93,000 in the second quarter. In total, there are 158 active investors with 82.10% ownership of the company’s stock.
Monday morning saw Benefitfocus Inc. (NASDAQ: BNFT) opened at $10.50. During the past 12 months, Benefitfocus Inc. has had a low of $5.68 and a high of $13.06. The fifty day moving average price for BNFT is $10.42 and a two-hundred day moving average price translates $8.82 for the stock.
The latest earnings results from Benefitfocus Inc. (NASDAQ: BNFT) was released for Jun, 2022. According to the Software – Application Company, earnings per share came in at -$0.1, beating analysts’ expectations of -$0.16 by 0.06. This compares to -$0.54 EPS in the same period last year. The net profit margin was -10.00% and return on equity was 26.70% for BNFT. The company reported revenue of $56.19 million for the quarter, compared to $62.03 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -9.41 percent. For the current quarter, analysts expect BNFT to generate $56.04M in revenue.
Benefitfocus Inc.(BNFT) 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. The company’s products for health plans include Enrollment that provides platform for carriers to automate enrollment across all segments of their commercial group business; Billing & Payments, an electronic invoice presentment and payment solution; Exchange, a solution that bridges the integration gap between health plan and employer systems; and Quoting that gives health plans and brokers tools to organize and proactively manage accounts, track leads, generate quotes, and create proposals for multiple products. Its products for brokers consist of Health Insights that support strategic decisions for their clients with on-demand health plan analytics; Benefit Catalog, which allows brokers to offer products to their clients; and benefit catalog consultative support for brokers through benefit advisors. The company also provides implementation services to its customers in order to help ensure seamless deployment and effective utilization of its solutions; and employers with expanded support services. The company was incorporated in 2000 and is headquartered in Charleston, South Carolina.
