Brokerages Set Castlight Health Inc (NYSE:CSLT) Price Target at $5.20

Castlight Health Inc (NYSE:CSLT) has earned an average recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $5.00.

CSLT has been the topic of a number of recent analyst reports. TheStreet upgraded shares of Castlight Health from a “d+” rating to a “c-” rating in a research note on Wednesday, July 31st. ValuEngine upgraded shares of Castlight Health from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Cantor Fitzgerald lowered shares of Castlight Health from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Finally, Zacks Investment Research downgraded shares of Castlight Health from a “hold” rating to a “sell” rating in a report on Monday.

In related news, EVP Neeraj Gupta sold 8,738 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $3.61, for a total transaction of $31,544.18. Following the sale, the executive vice president now owns 275,255 shares of the company’s stock, valued at $993,670.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 22,538 shares of company stock worth $74,521. 17.37% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Castlight Health by 30.6% in the second quarter. CWM LLC now owns 1,006,337 shares of the software maker’s stock valued at $3,250,000 after purchasing an additional 235,638 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Castlight Health in the second quarter valued at about $62,000. Edge Wealth Management LLC lifted its holdings in shares of Castlight Health by 14.0% in the second quarter. Edge Wealth Management LLC now owns 138,625 shares of the software maker’s stock valued at $448,000 after purchasing an additional 17,000 shares in the last quarter. FMR LLC lifted its holdings in shares of Castlight Health by 4.6% in the first quarter. FMR LLC now owns 15,952,562 shares of the software maker’s stock valued at $59,823,000 after purchasing an additional 705,543 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY purchased a new stake in shares of Castlight Health in the first quarter valued at about $97,000. 53.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Castlight Health stock traded down $0.04 on Tuesday, reaching $1.54. 621,400 shares of the stock were exchanged, compared to its average volume of 501,581. Castlight Health has a 1-year low of $1.50 and a 1-year high of $4.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.88 and a quick ratio of 1.88. The stock’s fifty day simple moving average is $2.84. The firm has a market capitalization of $227.46 million, a price-to-earnings ratio of -9.63 and a beta of 1.41.

Castlight Health (NYSE:CSLT) last issued its quarterly earnings results on Tuesday, July 30th. The software maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Castlight Health had a negative return on equity of 9.28% and a negative net margin of 19.68%. The firm had revenue of $35.90 million for the quarter, compared to analyst estimates of $36.95 million. During the same quarter last year, the firm earned ($0.10) earnings per share. The company’s revenue was down 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Castlight Health will post -0.19 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 implementation, user and customer support, and marketplace services.

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