Wedbush analyst Jennifer Redding initiated coverage with a Buy rating on Benefitfocus (NASDAQ: BNFT) yesterday and set a price target of $42. The company’s shares opened today at $32.46.
According to TipRanks.com, Redding is a 2-star analyst with an average return of 2.4% and a 25.0% success rate. Redding covers the Technology sector, focusing on stocks such as Nuance Communications, Tenable Holdings Inc, and Verint Systems Inc.
Currently, the analyst consensus on Benefitfocus is a Moderate Buy with an average price target of $50.
See today’s analyst top recommended stocks >>
Based on Benefitfocus’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.26 million. In comparison, last year the company had a GAAP net loss of $6.67 million.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Benefitfocus, Inc. provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers. It operates through the following segments: Employer and Carrier.
