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Deutsche Bank Starts Benefitfocus (BNFT) at Buy

October 14, 2013 8:36 AM EDT Send to a Friend
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Price: $39.22 +1.45%

Rating Summary:
    6 Buy, 1 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 27 | New: 8
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Deutsche Bank initiated coverage on Benefitfocus (NASDAQ: BNFT) with a Buy rating and a price target of $50.00.

Analyst Nandan Amladi said, "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 fastergrowing 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."

For an analyst ratings summary and ratings history on Benefitfocus click here. For more ratings news on Benefitfocus click here.

Shares of Benefitfocus closed at $41.86 yesterday.




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