Revenue Update on Benefitfocus Inc(NASDAQ:BNFT)

Benefitfocus Inc(NASDAQ:BNFT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $57.87M. Analysts estimated a revenue of $56.42M. Earnings per share were $-0.22. Analysts had estimated an EPS of $-0.37.

In a different note, Goldman Sachs said it Initiates Coverage on Benefitfocus Inc, according to a research note issued on May 23, 2016. The shares have been rated ‘Neutral’ by the firm. On May 6, 2016, William Blair said it Downgrades its rating on Benefitfocus Inc. The shares have been rated ‘Market Perform’ by the firm.

Benefitfocus Inc (BNFT) made into the market gainers list on Fridays trading session with the shares advancing 1.59% or 0.67 points. Due to strong positive momentum, the stock ended at $42.7, which is also near the day’s high of $42.75. The stock began the session at $42.01 and the volume stood at 2,46,092 shares. The 52-week high of the shares is $44.98 and the 52 week low is $21.04. The company has a current market capitalization of $1,266 M and it has 2,96,52,487 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 21, 2016, Francis J. Pelzer (director) sold 1,530 shares at $39.54 per share price.Also, On May 10, 2016, Stephen M Swad (director) purchased 2,000 shares at $32.90 per share price.On May 10, 2016, Douglas Dennerline (director) sold 3,200 shares at $31.85 per share price, according to the Form-4 filing with the securities and exchange commission.

Benefitfocus Inc. (Benefitfocus) is a provider of cloud-based benefits software solutions for consumers employers insurance carriers and brokers. The Benefitfocus platform provides solutions that enable the Company’s employer and insurance carrier customers to shop enroll manage and exchange benefits information. The Company operates through two business segments: Employer and Carrier. The Company offers a range of products and services for employers and insurance carriers. For employers the Company offers Benefitfocus Marketplace Data Cloud and Benefit Analytics Implementation Services Benefitfocus Service Center Media and Animation Services App Development Platform Software-Enabled Services and Benefitstore. For insurance carriers the Company offers eEnrollment eBilling eExchange eSales Marketplaces Data Cloud and Benefit Analytics Implementation Services Media and Animation Services App Development Platform Software-Enabled Services and BenefitStore.

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