UPDATE: Deutsche Bank Initiates Coverage on Benefitfocus with Buy Rating, $50 PT on Positive Long-Term Outlook

In a report published Monday, Deutsche Bank analyst Nandan Amladi initiated coverage on Benefitfocus BNFT with a Buy rating and $50.00 price target. In the report, Deutsche Bank noted, “Benefitfocus offers a cloud-based benefits management platform that enables their employer and insurance carrier customers to shop, enroll, manage and exchange benefits information. They address a $5bn market opportunity today, estimated to grow to $15bn in 2020 from the changing benefits enrollment landscape. With 348 employer customers (of a potential 18,000) and 37 carrier customers (of 315), the company is seeing a mix-shift towards the faster-growing employer business (two-year CAGR of 59%), but we conservatively model 25% total revenue growth near-term, and see long-term margin leverage from the growing share of subscription revenue. Initiate with Buy and $50 PT.” Benefitfocus closed on Friday at $41.86.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorInitiationAnalyst RatingsDeutsche BankNandan Amladi
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!