Benefitfocus Inc is Initiated by Berenberg to “Buy”

Benefitfocus Inc (BNFT) was Initiated by Berenberg to “Buy” and the brokerage firm has set the Price Target at $36. Berenberg advised their Clients and Investors in a research report released on Feb 7, 2017.

On the company’s financial health, Benefitfocus Inc reported $-0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $-0.32. The company had revenue of $58.00 million for the quarter, compared to analysts expectations of $57.71 million. The company’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.46 EPS.

Several company insiders have filed Insider transactions , on Nov 18, 2016, Shawn A Jenkins (CEO) sold 84,868 shares at $27.58 per share price. According to the SEC, on Nov 9, 2016, Stephen M Swad (director) purchased 3,000 shares at $26.43 per share price. On Oct 5, 2016, Raymond Alexander August (President and COO) sold 16,408 shares at $39.66 per share price, according to the Form-4 filing with the securities and exchange commission.

Benefitfocus Inc closed down -0.35 points or -1.20% at $28.85 with 1,19,602 shares getting traded on Friday. Post opening the session at $29.25, the shares hit an intraday low of $28.45 and an intraday high of $29.25 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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