Published on 4 Nov 2022 on Zacks via Yahoo Finance
Benefitfocus (BNFT) Moves 48.2% Higher: Will This Strength Last?
Benefitfocus (BNFT) shares soared 48.2% in the last trading session to close at $10.36. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.4% gain over the past four weeks.
The upswing in share price is attributed to improving prospects. SAP sales channel has continued to be a solid growth driver for the business as Benefitfocus expects 2 times pipeline growth in the second half of 2022. Also, the second half launch of Health Insight 2.0, and enhanced billing feature is expected to aid in its top line growth.
This human resources software provider is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of +26.3%. Revenues are expected to be $55.98 million, down 9.8% from the year-ago quarter.