Castlight Health Inc. (NYSE:CSLT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

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. “

CSLT has been the topic of several other research reports. Morgan Stanley reaffirmed a “hold” rating and issued a $4.00 price target on shares of Castlight Health in a research note on Thursday, August 25th. FBR & Co reaffirmed a “hold” rating and issued a $4.00 price target on shares of Castlight Health in a research note on Wednesday, August 10th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $5.00 price target on shares of Castlight Health in a research note on Sunday, September 11th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Castlight Health presently has a consensus rating of “Hold” and a consensus target price of $4.58.

Analyst Recommendations for Castlight Health (NYSE:CSLT)

Castlight Health (NYSE:CSLT) opened at 4.50 on Wednesday. The company’s market cap is $466.67 million. The stock has a 50 day moving average of $4.15 and a 200 day moving average of $4.09. Castlight Health has a 52 week low of $2.54 and a 52 week high of $4.97.

Castlight Health (NYSE:CSLT) last released its earnings results on Wednesday, November 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. The firm earned $25.50 million during the quarter, compared to analyst estimates of $24.81 million. Castlight Health had a negative net margin of 73.57% and a negative return on equity of 58.57%. The business’s revenue was up 30.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.17) EPS. On average, analysts expect that Castlight Health will post ($0.35) earnings per share for the current year.

In other Castlight Health news, insider Jonathan Rende sold 8,286 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $4.25, for a total transaction of $35,215.50. Following the transaction, the insider now owns 70,791 shares of the company’s stock, valued at approximately $300,861.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 37.43% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prescott Group Capital Management L.L.C. increased its position in Castlight Health by 61.8% in the second quarter. Prescott Group Capital Management L.L.C. now owns 241,682 shares of the company’s stock worth $957,000 after buying an additional 92,282 shares during the period. Bank of New York Mellon Corp increased its position in shares of Castlight Health by 13.1% in the second quarter. Bank of New York Mellon Corp now owns 169,786 shares of the company’s stock worth $672,000 after buying an additional 19,615 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Castlight Health by 16.7% in the second quarter. California State Teachers Retirement System now owns 84,599 shares of the company’s stock worth $335,000 after buying an additional 12,117 shares during the last quarter. Concourse Capital Management LLC increased 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. Finally, Westpac Banking Corp purchased a new position in shares of Castlight Health during the second quarter worth about $639,000. 51.60% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:CSLT

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