Castlight Health Inc (NYSE:CSLT) has earned an average recommendation of “Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $5.56.
Several analysts have recently commented on CSLT shares. Chardan Capital cut shares of Castlight Health from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $6.00 to $4.80 in a research note on Tuesday, July 31st. Dougherty & Co increased their price target on shares of Castlight Health from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, July 23rd. Cantor Fitzgerald reiterated a “buy” rating and issued a $5.00 price target on shares of Castlight Health in a report on Wednesday, April 25th. William Blair assumed coverage on shares of Castlight Health in a report on Wednesday, June 20th. They issued an “outperform” rating for the company. Finally, Zacks Investment Research upgraded shares of Castlight Health from a “sell” rating to a “hold” rating in a report on Tuesday, April 24th.
In other news, Director Seth B. Cohen sold 25,000 shares of the stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $5.47, for a total value of $136,750.00. Following the completion of the transaction, the director now owns 297,716 shares in the company, valued at approximately $1,628,506.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Seth B. Cohen sold 10,000 shares of the stock in a transaction dated Wednesday, July 11th. The shares were sold at an average price of $4.50, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 322,226 shares of the company’s stock, valued at approximately $1,450,017. The disclosure for this sale can be found here. Insiders sold a total of 74,118 shares of company stock valued at $365,231 in the last quarter. Insiders own 22.58% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY purchased a new position in shares of Castlight Health in the 2nd quarter valued at about $120,000. MetLife Investment Advisors LLC purchased a new position in Castlight Health during the 4th quarter valued at about $126,000. Allianz Asset Management GmbH purchased a new position in Castlight Health during the 1st quarter valued at about $180,000. Rhumbline Advisers increased its holdings in Castlight Health by 30.9% during the 2nd quarter. Rhumbline Advisers now owns 69,922 shares of the software maker’s stock valued at $297,000 after acquiring an additional 16,520 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Castlight Health by 13.1% during the 1st quarter. Swiss National Bank now owns 122,550 shares of the software maker’s stock valued at $447,000 after acquiring an additional 14,200 shares in the last quarter. Institutional investors and hedge funds own 44.14% of the company’s stock.
Shares of CSLT stock traded up $0.15 during mid-day trading on Tuesday, hitting $3.10. The stock had a trading volume of 1,321,850 shares, compared to its average volume of 535,927. Castlight Health has a fifty-two week low of $2.65 and a fifty-two week high of $5.95. The stock has a market capitalization of $413.28 million, a PE ratio of -11.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.85 and a current ratio of 1.85.
Castlight Health (NYSE:CSLT) last released its earnings results on Monday, July 30th. The software maker reported ($0.09) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.09). Castlight Health had a negative net margin of 38.02% and a negative return on equity of 22.89%. The company had revenue of $37.70 million during the quarter, compared to analysts’ expectations of $36.85 million. During the same quarter last year, the business earned ($0.07) EPS. The business’s revenue was up 15.6% on a year-over-year basis. equities analysts forecast that Castlight Health will post -0.3 earnings per share for the current fiscal year.
About Castlight Health
Castlight Health, Inc provides a software-as-a-service platform used for health benefits navigation for employees in the United States. Its platform matches employees to the resources their employers make available to them; managing a condition; and assists them to manage their benefits. The company also offers communication and testing, implementation, and user customer support services.
Recommended Story: Trading Strategy Methods and Types
Receive News & Ratings for Castlight Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Castlight Health and related companies with MarketBeat.com's FREE daily email newsletter.