Does Benefitfocus, Inc. (BNFT) Have Any Gas After Forming This Bullish Multiple Top Pattern?

July 16, 2018 - By Palma Niemeyer

Benefitfocus, Inc. (NASDAQ:BNFT) Logo

Investors sentiment increased to 1.63 in 2018 Q1. Its up 0.63, from 1 in 2017Q4. It improved, as 7 investors sold Benefitfocus, Inc. shares while 20 reduced holdings. 14 funds opened positions while 30 raised stakes. 26.31 million shares or 2.82% more from 25.58 million shares in 2017Q4 were reported.
Tower Rech Cap Ltd Liability Corporation (Trc) reported 6,604 shares stake. Citadel Advsrs Ltd Com owns 0% invested in Benefitfocus, Inc. (NASDAQ:BNFT) for 188,673 shares. Baillie Gifford reported 369,704 shares. Deutsche Bank Ag holds 0% or 22,857 shares in its portfolio. California Public Employees Retirement Sys has 0% invested in Benefitfocus, Inc. (NASDAQ:BNFT) for 29,200 shares. Jpmorgan Chase And has 3,199 shares for 0% of their portfolio. Legal & General Gru Public Limited Co stated it has 0% of its portfolio in Benefitfocus, Inc. (NASDAQ:BNFT). Teacher Retirement Of Texas owns 0.01% invested in Benefitfocus, Inc. (NASDAQ:BNFT) for 46,430 shares. Marshall Wace Limited Liability Partnership owns 17,200 shares. Swiss Commercial Bank has 0% invested in Benefitfocus, Inc. (NASDAQ:BNFT) for 27,200 shares. Fmr Lc accumulated 0.01% or 4.06M shares. California State Teachers Retirement System holds 0% or 24,092 shares in its portfolio. Spark Management Lc holds 0.19% in Benefitfocus, Inc. (NASDAQ:BNFT) or 120,100 shares. 3,307 are owned by Bnp Paribas Arbitrage. Illinois-based Peak6 Invs Lp has invested 0% in Benefitfocus, Inc. (NASDAQ:BNFT).

Since May 24, 2018, it had 0 buys, and 2 insider sales for $165.15 million activity. On Thursday, May 24 GOLDMAN SACHS GROUP INC sold $82.58 million worth of Benefitfocus, Inc. (NASDAQ:BNFT) or 2.50 million shares.

The stock of Benefitfocus, Inc. (BNFT) shows a multiple tops pattern with $37.68 target or 6.00 % above today’s $35.55 share price. The 8 months chart pattern indicates low risk for the $1.13 billion company. It was reported on Jul, 16 by If the $37.68 price target is reached, the company will be worth $67.74 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 0.84% or $0.3 during the last trading session, reaching $35.55. About 87,751 shares traded. Benefitfocus, Inc. (NASDAQ:BNFT) has risen 4.84% since July 16, 2017 and is uptrending. It has underperformed by 7.73% the S&P500.

Analysts await Benefitfocus, Inc. (NASDAQ:BNFT) to report earnings on August, 2. They expect $-0.56 earnings per share, down 300.00 % or $0.42 from last year’s $-0.14 per share. After $-0.39 actual earnings per share reported by Benefitfocus, Inc. for the previous quarter, Wall Street now forecasts 43.59 % negative EPS growth.

Benefitfocus, Inc. (NASDAQ:BNFT) Ratings Coverage

Among 8 analysts covering Benefitfocus (NASDAQ:BNFT), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. Benefitfocus has $3800 highest and $27 lowest target. $33’s average target is -7.17% below currents $35.55 stock price. Benefitfocus had 11 analyst reports since February 2, 2018 according to SRatingsIntel. Chardan Capital Markets maintained Benefitfocus, Inc. (NASDAQ:BNFT) rating on Friday, May 4. Chardan Capital Markets has “Neutral” rating and $34 target. The rating was maintained by Berenberg on Friday, May 4 with “Buy”. The firm has “Hold” rating by William Blair given on Friday, February 2. The rating was maintained by Wells Fargo on Thursday, March 15 with “Buy”. Jefferies maintained the shares of BNFT in report on Thursday, March 22 with “Buy” rating. Canaccord Genuity maintained Benefitfocus, Inc. (NASDAQ:BNFT) rating on Thursday, March 15. Canaccord Genuity has “Buy” rating and $29 target. The stock has “Buy” rating by Wells Fargo on Wednesday, May 16. Chardan Capital Markets maintained Benefitfocus, Inc. (NASDAQ:BNFT) rating on Thursday, March 15. Chardan Capital Markets has “Neutral” rating and $27 target. The firm has “Buy” rating given on Thursday, March 15 by Piper Jaffray. As per Friday, May 4, the company rating was upgraded by RBC Capital Markets.

Another recent and important Benefitfocus, Inc. (NASDAQ:BNFT) news was published by which published an article titled: “Benefitfocus Announces Date of Second Quarter 2018 Financial Results” on July 12, 2018.

Benefitfocus, Inc. provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. The company has market cap of $1.13 billion. It operates through Employer and Carrier divisions. It currently has negative earnings. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.

Benefitfocus, Inc. (NASDAQ:BNFT) Ratings Chart

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