Benefitfocus (BNFT) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Benefitfocus (NASDAQ:BNFT) from a hold rating to a sell rating in a research report report published on Tuesday morning.

According to Zacks, “Benefitfocus, Inc. offers cloud-based software solutions to consumers, employers, insurance carriers and brokers. The Company’s platform of products and services enable customers to efficiently shop, enroll, manage and exchange benefits information. Benefitfocus, Inc. is based in Charleston, South Carolina. “

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BNFT has been the topic of several other reports. Wells Fargo reaffirmed a buy rating and issued a $30.00 price target (down from $35.00) on shares of Benefitfocus in a research report on Thursday, March 15th. They noted that the move was a valuation call. Berenberg Bank set a $29.00 price target on Benefitfocus and gave the stock a buy rating in a research report on Thursday, March 15th. BidaskClub downgraded Benefitfocus from a sell rating to a strong sell rating in a research report on Thursday, January 18th. Jefferies Group dropped their price target on Benefitfocus to $30.00 and set a buy rating on the stock in a research report on Thursday, March 15th. Finally, Royal Bank of Canada dropped their price target on Benefitfocus to $24.00 and set a sector perform rating on the stock in a research report on Thursday, March 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $30.78.

Shares of Benefitfocus (NASDAQ:BNFT) opened at $26.30 on Tuesday. Benefitfocus has a 1-year low of $21.75 and a 1-year high of $37.10. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of -2.23. The firm has a market capitalization of $836.55, a P/E ratio of -32.07 and a beta of 0.98.

Benefitfocus (NASDAQ:BNFT) last posted its earnings results on Wednesday, March 14th. The software maker reported ($0.06) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). The company had revenue of $66.80 million during the quarter, compared to analyst estimates of $66.47 million. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) earnings per share. analysts predict that Benefitfocus will post -1.27 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC bought a new stake in shares of Benefitfocus during the fourth quarter valued at approximately $173,000. Sei Investments Co. increased its position in shares of Benefitfocus by 65.1% during the third quarter. Sei Investments Co. now owns 6,025 shares of the software maker’s stock valued at $203,000 after purchasing an additional 2,375 shares during the period. Aperio Group LLC bought a new stake in shares of Benefitfocus during the fourth quarter valued at approximately $239,000. Parametric Portfolio Associates LLC bought a new stake in shares of Benefitfocus during the second quarter valued at approximately $288,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Benefitfocus by 22.6% during the second quarter. The Manufacturers Life Insurance Company now owns 13,092 shares of the software maker’s stock valued at $476,000 after purchasing an additional 2,410 shares during the period. Institutional investors and hedge funds own 86.36% of the company’s stock.

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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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Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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