In a report released today, Daniel Ives from Wedbush reiterated a Buy rating on Benefitfocus (BNFT), with a price target of $57. The company’s shares closed yesterday at $49.72.
According to TipRanks.com, Ives is a 4-star analyst with an average return of 3.0% and a 51.0% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Tenable Holdings Inc, and Pivotal Software Inc.
Currently, the analyst consensus on Benefitfocus is a Strong Buy with an average price target of $54.50, a 9.6% upside from current levels. In a report issued on December 11, Piper Jaffray also reiterated a Buy rating on the stock with a $61 price target.
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Based on Benefitfocus’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $11.6 million. In comparison, last year the company had a GAAP net loss of $6.67 million.
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Benefitfocus, Inc. provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers. It operates through the following segments: Employer and Carrier.