Benefitfocus, Inc. (BNFT) Updates FY17 Earnings Guidance

Benefitfocus, Inc. (NASDAQ:BNFT) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of (0.34)-(0.24) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.32). The company issued revenue guidance of $255-258 million, compared to the consensus revenue estimate of $265.57 million.Benefitfocus also updated its Q3 guidance to (0.16)-(0.13) EPS.

Benefitfocus, Inc. (NASDAQ BNFT) traded up 0.18% during trading on Friday, hitting $28.05. The company’s stock had a trading volume of 154,919 shares. Benefitfocus, Inc. has a one year low of $24.55 and a one year high of $43.25. The firm’s market cap is $874.57 million. The company has a 50-day moving average of $34.20 and a 200 day moving average of $30.99.

Benefitfocus (NASDAQ:BNFT) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $63.30 million during the quarter, compared to the consensus estimate of $62.07 million. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities analysts forecast that Benefitfocus, Inc. will post ($0.30) earnings per share for the current year.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Benefitfocus from a hold rating to a buy rating and set a $31.00 price target on the stock in a report on Tuesday, August 8th. Berenberg Bank restated a buy rating and set a $36.00 price target on shares of Benefitfocus in a report on Thursday. Canaccord Genuity restated a buy rating and set a $35.00 price target on shares of Benefitfocus in a report on Tuesday, August 1st. Raymond James Financial, Inc. upped their price objective on shares of Benefitfocus from $38.00 to $43.00 and gave the company an outperform rating in a research note on Thursday, July 27th. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $43.00 price objective on shares of Benefitfocus in a research note on Friday, August 4th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $39.00.

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About Benefitfocus

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.

Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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