Benefitfocus (NASDAQ:BNFT) had its price objective boosted by investment analysts at Goldman Sachs Group from $11.00 to $12.00 in a research note issued to investors on Monday, The Fly reports. Goldman Sachs Group’s price target suggests a potential upside of 12.36% from the stock’s previous close.
A number of other analysts have also weighed in on the company. Wells Fargo & Co lowered their target price on Benefitfocus from $29.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Zacks Investment Research raised shares of Benefitfocus from a “hold” rating to a “strong-buy” rating and set a $13.00 target price for the company in a research note on Tuesday, June 23rd. Cantor Fitzgerald reissued a “buy” rating on shares of Benefitfocus in a research note on Thursday, April 2nd. BidaskClub upgraded shares of Benefitfocus from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 27th. Finally, Piper Sandler decreased their price objective on Benefitfocus from $35.00 to $26.00 in a research report on Thursday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $27.09.
NASDAQ BNFT opened at $10.68 on Monday. The firm has a market cap of $332.63 million, a price-to-earnings ratio of -8.22 and a beta of 1.57. The company has a 50 day moving average of $11.45 and a 200-day moving average of $14.02. Benefitfocus has a 1-year low of $6.09 and a 1-year high of $28.25.
Hedge funds have recently bought and sold shares of the company. Great West Life Assurance Co. Can bought a new position in shares of Benefitfocus in the 4th quarter worth $32,000. Nisa Investment Advisors LLC lifted its stake in Benefitfocus by 3,733.3% in the first quarter. Nisa Investment Advisors LLC now owns 5,750 shares of the software maker’s stock valued at $51,000 after buying an additional 5,600 shares during the period. UBS Group AG boosted its holdings in Benefitfocus by 194.3% during the fourth quarter. UBS Group AG now owns 2,434 shares of the software maker’s stock worth $53,000 after buying an additional 1,607 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Benefitfocus by 26.8% during the 4th quarter. Victory Capital Management Inc. now owns 3,713 shares of the software maker’s stock worth $69,000 after buying an additional 784 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in shares of Benefitfocus by 148.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,816 shares of the software maker’s stock worth $87,000 after buying an additional 5,866 shares during the period. 88.33% of the stock is currently owned by institutional investors.
Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, suppliers, and brokers in the United States. The company operates through Employer and Carrier segments. Its products for insurance carriers include BenefitsPlace, a transaction-oriented, marketplace solution; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution that bridges the integration gap between carrier and employer systems; eSales for carriers and brokers tools to organize and manage accounts, track leads, generate quotes, and create proposals for various products; and Core & Advanced Analytics, a data analytics solution.
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