Equity Analysis /
United States of America

US : Benefitfocus, Inc. - BNFT | Downgrading to Market Perform as 2021 Consensus Looks Aggressive

    Contributors
    Kevin J. Ruth
    Alexander Sklar
    CGS-CIMB
    21 January 2021
    Published byCGS-CIMB

    We're downgrading shares of Benefitfocus from Outperform to Market Perform ahead of the company's 4Q20 earnings reports, where we expect the initial 2021 revenue outlook to fall short of consensus projections. To be clear, our revised rating in no way is a reflection on recently appointed CEO Steve