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

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Benefitfocus Partners with HealthTap to Add End-to-End Virtual Care to Its New Voluntary Benefits Store
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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
Jun 2015William BlairUpgradesMarket PerformOutperform
May 2015Canaccord GenuityMaintainsBuy
Mar 2015Wells FargoInitiates Coverage onOutperform

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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