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UPDATE: Piper Jaffray Initiates Coverage on Benefitfocus on SaaS Platform for Health Benefits, Sustainable Growth

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In a report published Monday, Piper Jaffray analyst Sean W. Wieland initiated coverage on Benefitfocus (NASDAQ: BNFT) with an Overweight rating and $50.00 price target.

In the report, Piper Jaffray noted, “Benefitfocus is a SaaS platform that powers private health benefit exchanges for employers and insurance carriers. We are in the very early stages of the transition from the defined benefit model to the defined contribution model with regard to health benefits, and we believe Benefitfocus has first mover advantage with the necessary platform to enable this transition for its customers. Initiate with Overweight, $50 PT.”

Benefitfocus closed on Friday at $41.86.

Latest Ratings for BNFT

DateFirmActionFromTo
Sep 2014RBC CapitalInitiates Coverage onOutperform
May 2014Canaccord GenuityMaintainsBuy
Apr 2014William BlairInitiates Coverage onMarket Perform

View More Analyst Ratings for BNFT
View the Latest Analyst Ratings

Posted-In: Piper Jaffray Sean W. WielandAnalyst Color Initiation Analyst Ratings

 

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