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Tuesday, June 28, 2022

The Forecast Just Changed on Benefytt Technologies Inc. (NASDAQ:BFYT)

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The Benefytt Technologies Inc. (BFYT) shares are trading at higher $30.80 and the avg recommendation for the stock is Strong Buy.

To add more color to this target, the company’s high over the last year is $31.49 and the low is $15.60. Over the last 52 weeks, BFYT is down -2.19% while the S&P 500 is down -0.87%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, BFYT reported a profit of $-59.42 million. Benefytt Technologies Inc. also saw revenues decrease to $71.56 million. In addition, BFYT has free cash flow of -$11.66 million as of 03-2020. The company’s EBITDA came in at -$49.9 million which compares well with its peers.

BFYT booked profit margins of -4.40%, its Return on Equity (ROE) is -20.20%, and its Return on Assets is -2.70%. All told, it is clear that, BFYT needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BFYT has a short ratio of 13.33 and outstanding shares of 12.02M.

Company Outlook

BFYT has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.54 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.14. Investors should also keep an eye on sector updates as BFYT has historically followed its peers on positive news.

All told, Benefytt Technologies Inc. BFYT has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BFYT represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Benefytt Technologies Inc. BFYT is now commanding a market cap of 379.46M and a float of 11.84M. BFYT is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BFYT stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in BFYT, either long or short, and we have not been compensated for this article.

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