In a report released today, Daniel Ives from Wedbush maintained a Buy rating on Benefitfocus (BNFT), with a price target of $40. The company’s shares closed yesterday at $23.49, close to its 52-week low of $22.82.
According to TipRanks.com, Ives is a 4-star analyst with an average return of 4.1% and a 54.0% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Uber Technologies Inc, and Pivotal Software Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Benefitfocus with a $36 average price target.
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Based on Benefitfocus’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $14.21 million. In comparison, last year the company had a GAAP net loss of $14.26 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is neutral on the stock.
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Benefitfocus, Inc. engages in the provision of cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers. It operates through the Employer and Carrier business segments.
