Zacks Investment Research upgraded shares of Castlight Health, inc. (NYSE:CSLT) from a hold rating to a buy rating in a report published on Monday. They currently have $4.50 target price on the software maker’s stock.

According to Zacks, “Castlight Health, Inc. operates as a provider of cloud-based software. Its enables enterprises to gain control over their rapidly escalating health care costs. The Company’s Enterprise Healthcare Cloud allows its customers to conquer the complexity of the existing health care system by providing personalized, actionable information to their employees, implementing technology-enabled benefit designs and integrating disparate systems and applications. Castlight Health, Inc. is headquartered in San Francisco, California. “

Several other equities research analysts also recently issued reports on CSLT. ValuEngine downgraded Castlight Health, inc. from a hold rating to a sell rating in a research report on Thursday, August 10th. Canaccord Genuity reaffirmed a buy rating and issued a $7.00 price target on shares of Castlight Health, inc. in a research report on Thursday, October 26th. Dougherty & Co reaffirmed a buy rating on shares of Castlight Health, inc. in a research report on Thursday, August 17th. BidaskClub downgraded Castlight Health, inc. from a hold rating to a sell rating in a research report on Wednesday, October 18th. Finally, Chardan Capital lowered their price target on Castlight Health, inc. from $6.50 to $6.30 and set a buy rating on the stock in a research report on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $5.22.

Castlight Health, inc. (NYSE:CSLT) last posted its earnings results on Wednesday, October 25th. The software maker reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. Castlight Health, inc. had a negative return on equity of 32.57% and a negative net margin of 45.14%. The company had revenue of $34.60 million for the quarter, compared to analyst estimates of $34.61 million. During the same period last year, the company earned ($0.05) earnings per share. The business’s revenue was up 35.7% compared to the same quarter last year.

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In related news, CFO Mangini Siobhan Nolan sold 28,414 shares of Castlight Health, inc. stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $3.66, for a total transaction of $103,995.24. Following the sale, the chief financial officer now directly owns 41,622 shares of the company’s stock, valued at $152,336.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Giovanni M. Colella sold 26,800 shares of Castlight Health, inc. stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $3.89, for a total value of $104,252.00. Following the sale, the insider now directly owns 78,906 shares in the company, valued at $306,944.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,287 shares of company stock worth $795,240. 37.43% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC boosted its holdings in Castlight Health, inc. by 0.7% during the second quarter. Citadel Advisors LLC now owns 105,170 shares of the software maker’s stock valued at $437,000 after purchasing an additional 713 shares in the last quarter. Stifel Financial Corp boosted its holdings in Castlight Health, inc. by 4.3% during the first quarter. Stifel Financial Corp now owns 36,500 shares of the software maker’s stock valued at $133,000 after purchasing an additional 1,500 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Castlight Health, inc. by 2.1% during the first quarter. TIAA CREF Investment Management LLC now owns 108,032 shares of the software maker’s stock valued at $394,000 after purchasing an additional 2,210 shares in the last quarter. Edge Wealth Management LLC boosted its holdings in Castlight Health, inc. by 6.5% during the second quarter. Edge Wealth Management LLC now owns 50,050 shares of the software maker’s stock valued at $198,000 after purchasing an additional 3,050 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Castlight Health, inc. by 25.4% during the second quarter. Voya Investment Management LLC now owns 26,929 shares of the software maker’s stock valued at $112,000 after purchasing an additional 5,453 shares in the last quarter. 41.29% of the stock is currently owned by institutional investors.

About Castlight Health, inc.

Castlight Health, Inc offers a health benefits platform that engages employees to make healthcare decisions, and enables employers to communicate and measure their benefit programs. The Company operates through cloud-based products segment. Its technology offering aggregates data and applies analytics to make healthcare data transparent.

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Analyst Recommendations for Castlight Health, inc. (NYSE:CSLT)

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