What Will Happen to Benefitfocus, Inc. (BNFT) Next? The Stock Formed a Several Months Double Bottom

February 15, 2018 - By reb123z

Investors sentiment decreased to 1.25 in Q3 2017. Its down 0.44, from 1.69 in 2017Q2. It fall, as 15 investors sold Benefitfocus, Inc. shares while 17 reduced holdings. 10 funds opened positions while 30 raised stakes. 24.67 million shares or 0.46% more from 24.56 million shares in 2017Q2 were reported.
Massachusetts-based Rhumbline Advisers has invested 0% in Benefitfocus, Inc. (NASDAQ:BNFT). Moreover, Royal Savings Bank Of Canada has 0% invested in Benefitfocus, Inc. (NASDAQ:BNFT) for 31,143 shares. Barclays Public Ltd Company holds 0% or 4,030 shares in its portfolio. Wellington Management Gru Ltd Liability Partnership has invested 0% in Benefitfocus, Inc. (NASDAQ:BNFT). First Mercantile Trust holds 0.02% or 3,394 shares. Point72 Asset Lp has invested 0.02% in Benefitfocus, Inc. (NASDAQ:BNFT). Great West Life Assurance Company Can has 1,372 shares for 0% of their portfolio. Voya Inv Mgmt Ltd Com invested in 0% or 6,744 shares. Gagnon Secs Limited Liability Corp holds 12,783 shares. Retail Bank Of Montreal Can stated it has 501 shares or 0% of all its holdings. Tiaa Cref Inv Management Ltd Liability Corp accumulated 40,913 shares. Diker Mgmt Ltd Llc reported 14,473 shares. Moreover, California Public Employees Retirement Systems has 0% invested in Benefitfocus, Inc. (NASDAQ:BNFT) for 29,200 shares. Citigroup holds 1,616 shares or 0% of its portfolio. Legal & General Public Limited Company holds 0% or 4,047 shares in its portfolio.

The chart of Benefitfocus, Inc. (BNFT) shows a double bottom with $22.20 target or 9.00 % below today’s $24.40 share price. The 9 months chart pattern indicates high risk for the $763.07M company. It was reported on Feb, 15 by Finviz.com. If the $22.20 price target is reached, the company will be worth $68.68 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 2.74% or $0.65 during the last trading session, reaching $24.4. About 36,489 shares traded. Benefitfocus, Inc. (NASDAQ:BNFT) has declined 9.60% since February 15, 2017 and is downtrending. It has underperformed by 26.30% the S&P500.

Analysts await Benefitfocus, Inc. (NASDAQ:BNFT) to report earnings on February, 22. They expect $-0.21 earnings per share, up 12.50 % or $0.03 from last year’s $-0.24 per share. After $-0.20 actual earnings per share reported by Benefitfocus, Inc. for the previous quarter, Wall Street now forecasts 5.00 % negative EPS growth.

Benefitfocus, Inc. (NASDAQ:BNFT) Ratings Coverage

Among 11 analysts covering Benefitfocus (NASDAQ:BNFT), 7 have Buy rating, 0 Sell and 4 Hold. Therefore 64% are positive. Benefitfocus had 32 analyst reports since July 28, 2015 according to SRatingsIntel. Piper Jaffray maintained Benefitfocus, Inc. (NASDAQ:BNFT) rating on Friday, November 3. Piper Jaffray has “Buy” rating and $34.0 target. As per Friday, November 3, the company rating was downgraded by William Blair. The stock of Benefitfocus, Inc. (NASDAQ:BNFT) has “Hold” rating given on Thursday, October 12 by RBC Capital Markets. Chardan Capital Markets downgraded Benefitfocus, Inc. (NASDAQ:BNFT) on Friday, August 4 to “Neutral” rating. The stock of Benefitfocus, Inc. (NASDAQ:BNFT) has “Hold” rating given on Monday, May 29 by RBC Capital Markets. The rating was maintained by Jefferies on Wednesday, September 20 with “Buy”. The firm has “Buy” rating given on Friday, August 18 by Jefferies. The firm earned “Buy” rating on Friday, August 12 by Jefferies. On Thursday, June 1 the stock rating was upgraded by William Blair to “Outperform”. The rating was maintained by Jefferies on Wednesday, February 24 with “Buy”.

More news for Benefitfocus, Inc. (NASDAQ:BNFT) were recently published by: Prnewswire.com, which released: “Benefitfocus Announces Headline Speakers for One PlaceĀ® 2018” on January 11, 2018. Postandcourier.com‘s article titled: “Charleston tech stalwart Benefitfocus to replace founding CEO next year” and published on November 20, 2017 is yet another important article.

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