Benefitfocus Inc (BNFT) is Initiated by Goldman to Neutral, Price Target at $38

Benefitfocus Inc (BNFT) was Initiated by Goldman to “Neutral” and the brokerage firm has set the Price Target at $38. Goldman advised their investors in a research report released on May 23, 2016.

Many Wall Street Analysts have commented on Benefitfocus Inc. Company shares were Reiterated by Canaccord Genuity on Mar 10, 2016 to “Buy”, Firm has raised the Price Target to $ 36 from a previous price target of $35 .Shares were Reiterated by RBC Capital Mkts on Mar 9, 2016 to “Sector Perform” and Lowered the Price Target to $ 34 from a previous price target of $36 .

On the company’s financial health, Benefitfocus Inc reported $-0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.41. The company had revenue of $54.79 million for the quarter, compared to analysts expectations of $54.39 million. The company’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.48 EPS.

Benefitfocus Inc opened for trading at $34.1 and hit $35.18 on the upside on Friday, eventually ending the session at $35.11, with a gain of 3.05% or 1.04 points. The heightened volatility saw the trading volume jump to 1,46,133 shares. Company has a market cap of $1,031,532 M.

In a different news, on May 10, 2016, Stephen M Swad (director) purchased 2,000 shares at $32.90 per share price. According to the SEC, on May 10, 2016, Douglas Dennerline (director) sold 3,200 shares at $31.85 per share price. On Apr 5, 2016, Shawn A Jenkins (CEO) sold 7,722 shares at $32.38 per share price, according to the Form-4 filing with the securities and exchange commission.

Benefitfocus Inc. (Benefitfocus) is a provider of cloud-based benefits software solutions for consumers employers insurance carriers and brokers. The Benefitfocus platform provides solutions that enable the Company’s employer and insurance carrier customers to shop enroll manage and exchange benefits information. The Company operates through two business segments: Employer and Carrier. The Company offers a range of products and services for employers and insurance carriers. For employers the Company offers Benefitfocus Marketplace Data Cloud and Benefit Analytics Implementation Services Benefitfocus Service Center Media and Animation Services App Development Platform Software-Enabled Services and Benefitstore. For insurance carriers the Company offers eEnrollment eBilling eExchange eSales Marketplaces Data Cloud and Benefit Analytics Implementation Services Media and Animation Services App Development Platform Software-Enabled Services and BenefitStore.

Benefitfocus Inc

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