Castlight Health Inc. (CSLT) Receives Average Rating of “Hold” from Brokerages
Shares of Castlight Health Inc. (NYSE:CSLT) have been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $4.79.
Several research firms have recently weighed in on CSLT. Zacks Investment Research upgraded Castlight Health from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Friday, August 12th. Canaccord Genuity restated a “hold” rating and set a $5.00 price target on shares of Castlight Health in a report on Thursday, August 11th. FBR & Co restated a “hold” rating and set a $4.00 price target on shares of Castlight Health in a report on Wednesday, August 10th. Finally, Morgan Stanley restated a “hold” rating and set a $4.00 price target on shares of Castlight Health in a report on Thursday, August 25th.
In other Castlight Health news, insider Jonathan Rende sold 8,286 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $4.25, for a total value of $35,215.50. Following the transaction, the insider now directly owns 70,791 shares of the company’s stock, valued at $300,861.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. 37.43% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its position in shares of Castlight Health by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 897,369 shares of the company’s stock worth $3,554,000 after buying an additional 19,460 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Castlight Health by 30.7% in the second quarter. BlackRock Fund Advisors now owns 1,055,397 shares of the company’s stock worth $4,179,000 after buying an additional 247,845 shares during the last quarter. BlackRock Investment Management LLC raised its position in shares of Castlight Health by 18.9% in the second quarter. BlackRock Investment Management LLC now owns 140,360 shares of the company’s stock worth $556,000 after buying an additional 22,265 shares during the last quarter. Westpac Banking Corp purchased a new position in shares of Castlight Health during the second quarter worth $639,000. Finally, Concourse Capital Management LLC raised its position in shares of Castlight Health by 13.4% in the second quarter. Concourse Capital Management LLC now owns 68,286 shares of the company’s stock worth $270,000 after buying an additional 8,046 shares during the last quarter. 51.35% of the stock is currently owned by institutional investors.
Shares of Castlight Health (NYSE:CSLT) traded up 0.414% on Thursday, reaching $4.127. 54,518 shares of the company were exchanged. The stock’s market capitalization is $423.84 million. The stock has a 50 day moving average price of $4.14 and a 200-day moving average price of $3.99. Castlight Health has a 12 month low of $2.54 and a 12 month high of $5.39.
Castlight Health (NYSE:CSLT) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. The company had revenue of $23.60 million for the quarter, compared to analysts’ expectations of $23.09 million. Castlight Health had a negative return on equity of 62.65% and a negative net margin of 88.48%. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.19) earnings per share. On average, equities analysts expect that Castlight Health will post ($0.40) EPS for the current fiscal year.
Castlight Health Company Profile
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 products deliver employee engagement and enable employers to integrate benefit programs into a single platform available to employees and their families.
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