What’s Ahead for Benefitfocus, Inc. (BNFT) After Forming Multiple Bottom?

April 21, 2018 - By Adrian Mccoy

Benefitfocus, Inc. (NASDAQ:BNFT) Logo

Investors sentiment decreased to 1 in Q4 2017. Its down 0.25, from 1.25 in 2017Q3. It worsened, as 14 investors sold Benefitfocus, Inc. shares while 21 reduced holdings. 9 funds opened positions while 26 raised stakes. 25.58 million shares or 3.69% more from 24.67 million shares in 2017Q3 were reported.
Macquarie Grp has 0% invested in Benefitfocus, Inc. (NASDAQ:BNFT) for 52,445 shares. Goldman Sachs Group holds 6.27 million shares. Parametric Port Associates Limited Liability Corp invested 0% in Benefitfocus, Inc. (NASDAQ:BNFT). Morgan Stanley holds 0% in Benefitfocus, Inc. (NASDAQ:BNFT) or 330,838 shares. Oak Ridge holds 156,176 shares. Deutsche Comml Bank Ag has 38,852 shares. Essex Limited Liability Corp invested in 0.17% or 48,039 shares. Blackrock Inc reported 0% stake. International Group Inc holds 0% or 10,705 shares. Teacher Retirement Sys Of Texas owns 48,286 shares or 0.01% of their US portfolio. State Street reported 0% stake. Invesco Limited holds 23,120 shares or 0% of its portfolio. Manufacturers Life Insurance The accumulated 12,836 shares. Northern Tru holds 0% or 208,543 shares. Rhumbline Advisers holds 0% or 14,794 shares.

The stock of Benefitfocus, Inc. (BNFT) shows a multiple bottoms pattern with $24.97 target or 7.00 % below today’s $26.85 share price. The 5 months chart pattern indicates high risk for the $841.25 million company. It was reported on Apr, 21 by Finviz.com. If the $24.97 price target is reached, the company will be worth $58.89M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.92% or $0.25 during the last trading session, reaching $26.85. About 112,189 shares traded. Benefitfocus, Inc. (NASDAQ:BNFT) has declined 7.37% since April 21, 2017 and is downtrending. It has underperformed by 18.92% the S&P500.

Analysts await Benefitfocus, Inc. (NASDAQ:BNFT) to report earnings on April, 26. They expect $-0.54 EPS, down 116.00 % or $0.29 from last year’s $-0.25 per share. After $-0.20 actual EPS reported by Benefitfocus, Inc. for the previous quarter, Wall Street now forecasts 170.00 % negative EPS growth.

Benefitfocus, Inc. (NASDAQ:BNFT) Ratings Coverage

Among 7 analysts covering Benefitfocus (NASDAQ:BNFT), 5 have Buy rating, 0 Sell and 2 Hold. Therefore 71% are positive. Benefitfocus has $35.0 highest and $27 lowest target. $29.50’s average target is 9.87% above currents $26.85 stock price. Benefitfocus had 11 analyst reports since October 27, 2017 according to SRatingsIntel. The stock of Benefitfocus, Inc. (NASDAQ:BNFT) has “Market Perform” rating given on Friday, November 3 by William Blair. The stock has “Buy” rating by Piper Jaffray on Friday, November 3. The firm has “Buy” rating given on Thursday, March 22 by Jefferies. The stock of Benefitfocus, Inc. (NASDAQ:BNFT) earned “Buy” rating by Jefferies on Friday, October 27. Wells Fargo maintained Benefitfocus, Inc. (NASDAQ:BNFT) rating on Thursday, March 15. Wells Fargo has “Buy” rating and $30.0 target. Canaccord Genuity maintained the stock with “Buy” rating in Sunday, October 29 report. Piper Jaffray maintained Benefitfocus, Inc. (NASDAQ:BNFT) rating on Thursday, March 15. Piper Jaffray has “Buy” rating and $31.0 target. The firm has “Hold” rating given on Friday, February 2 by William Blair. The rating was maintained by Berenberg with “Buy” on Thursday, March 15. The stock of Benefitfocus, Inc. (NASDAQ:BNFT) earned “Buy” rating by Canaccord Genuity on Thursday, March 15.

Benefitfocus, Inc. (NASDAQ:BNFT) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.