Castlight Health Inc (CSLT) Given Average Recommendation of “Hold” by Brokerages
Castlight Health Inc (NYSE:CSLT) has been assigned a consensus rating of “Hold” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $5.18.
A number of brokerages have recently issued reports on CSLT. BidaskClub downgraded shares of Castlight Health from a “sell” rating to a “strong sell” rating in a report on Thursday, November 9th. Zacks Investment Research upgraded shares of Castlight Health from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a report on Monday, October 30th. Canaccord Genuity reiterated a “buy” rating and issued a $7.00 target price on shares of Castlight Health in a report on Thursday, October 26th. Chardan Capital dropped their target price on shares of Castlight Health from $6.50 to $6.30 and set a “buy” rating for the company in a report on Thursday, October 26th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $5.00 target price on shares of Castlight Health in a report on Wednesday, October 25th.
In other Castlight Health news, CFO Mangini Siobhan Nolan sold 8,866 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $3.70, for a total value of $32,804.20. Following the completion of the transaction, the chief financial officer now owns 78,561 shares of the company’s stock, valued at approximately $290,675.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Doyle sold 13,686 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $3.71, for a total transaction of $50,775.06. Following the completion of the transaction, the chief executive officer now directly owns 123,705 shares of the company’s stock, valued at approximately $458,945.55. The disclosure for this sale can be found here. Insiders sold a total of 22,778 shares of company stock valued at $84,411 in the last quarter. 37.43% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of CSLT. Voya Investment Management LLC boosted its position in Castlight Health by 25.4% in the 2nd quarter. Voya Investment Management LLC now owns 26,929 shares of the software maker’s stock valued at $112,000 after buying an additional 5,453 shares during the period. Nationwide Fund Advisors boosted its position in Castlight Health by 49.5% in the 2nd quarter. Nationwide Fund Advisors now owns 36,418 shares of the software maker’s stock valued at $151,000 after buying an additional 12,061 shares during the period. Stifel Financial Corp boosted its position in Castlight Health by 12.3% in the 2nd quarter. Stifel Financial Corp now owns 41,000 shares of the software maker’s stock valued at $171,000 after buying an additional 4,500 shares during the period. UBS Asset Management Americas Inc. purchased a new position in Castlight Health in the 2nd quarter valued at approximately $193,000. Finally, New York State Common Retirement Fund boosted its position in Castlight Health by 60.5% in the 2nd quarter. New York State Common Retirement Fund now owns 49,600 shares of the software maker’s stock valued at $206,000 after buying an additional 18,699 shares during the period. 42.55% of the stock is owned by institutional investors.
Shares of Castlight Health (NYSE CSLT) opened at $3.75 on Monday. The stock has a market cap of $501.51, a P/E ratio of -7.81 and a beta of 1.66. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.03. Castlight Health has a 1-year low of $3.05 and a 1-year high of $5.10.
Castlight Health (NYSE:CSLT) last announced its quarterly earnings results on Wednesday, October 25th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.02. The business had revenue of $34.60 million during the quarter, compared to the consensus estimate of $34.61 million. Castlight Health had a negative net margin of 45.14% and a negative return on equity of 32.57%. The business’s revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) EPS. research analysts forecast that Castlight Health will post -0.43 earnings per share for the current fiscal year.
About Castlight Health
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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