Benefitfocus (NASDAQ:BNFT) had its price target lifted by equities research analysts at Wedbush from $44.00 to $57.00 in a research report issued on Tuesday, The Fly reports. The firm presently has an “outperform” rating on the software maker’s stock. Wedbush’s price objective would indicate a potential upside of 13.91% from the stock’s previous close.

Other analysts have also issued research reports about the stock. ValuEngine upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating in a research note on Monday, August 6th. BidaskClub upgraded shares of Benefitfocus from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 23rd. Raymond James boosted their price target on shares of Benefitfocus from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 30th. Zacks Investment Research upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Wednesday, November 7th. Finally, Jefferies Financial Group upped their target price on shares of Benefitfocus to $48.00 and gave the stock a “buy” rating in a research note on Friday, November 2nd. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $42.36.

Shares of BNFT stock opened at $50.04 on Tuesday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -63.34 and a beta of 1.28. Benefitfocus has a 12 month low of $21.75 and a 12 month high of $52.94.

Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings results on Thursday, November 1st. The software maker reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.05. The business had revenue of $61.00 million for the quarter, compared to the consensus estimate of $59.91 million. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. On average, equities research analysts forecast that Benefitfocus will post -1.15 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of BNFT. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Benefitfocus in the 3rd quarter worth $185,000. Ibex Investors LLC bought a new stake in shares of Benefitfocus in the 3rd quarter worth $206,000. Vanguard Capital Wealth Advisors bought a new stake in shares of Benefitfocus in the 3rd quarter worth $210,000. Metropolitan Life Insurance Co. NY grew its stake in shares of Benefitfocus by 59.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 6,581 shares of the software maker’s stock worth $221,000 after acquiring an additional 2,453 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Benefitfocus by 84.9% in the 3rd quarter. Legal & General Group Plc now owns 5,861 shares of the software maker’s stock worth $238,000 after acquiring an additional 2,691 shares in the last quarter. Hedge funds and other institutional investors own 93.71% of the company’s stock.

About Benefitfocus

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.

Further Reading: Analyst Ratings

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Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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