Castlight Health, inc. (CSLT) Lowered to Sell at ValuEngine
ValuEngine downgraded shares of Castlight Health, inc. (NYSE:CSLT) from a hold rating to a sell rating in a research report released on Thursday morning.
Several other research firms have also recently weighed in on CSLT. Cowen and Company reiterated a market perform rating and set a $4.50 price objective (up from $4.00) on shares of Castlight Health, inc. in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Castlight Health, inc. from a hold rating to a buy rating in a research report on Wednesday, July 12th. Morgan Stanley cut shares of Castlight Health, inc. from an equal weight rating to an underweight rating and lowered their price target for the company from $4.00 to $3.75 in a report on Friday, May 12th. Zacks Investment Research upgraded shares of Castlight Health, inc. from a sell rating to a hold rating in a report on Tuesday, June 27th. Finally, Dougherty & Co began coverage on shares of Castlight Health, inc. in a report on Wednesday, May 10th. They set a buy rating and a $5.50 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $4.57.
Shares of Castlight Health, inc. (CSLT) opened at 3.95 on Thursday. The firm’s market cap is $520.16 million. The stock’s 50 day moving average price is $4.27 and its 200 day moving average price is $3.79. Castlight Health, inc. has a 12-month low of $3.05 and a 12-month high of $5.50.
Castlight Health, inc. (NYSE:CSLT) last posted its quarterly earnings data on Wednesday, August 2nd. The software maker reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. Castlight Health, inc. had a negative net margin of 42.54% and a negative return on equity of 36.30%. The firm had revenue of $32.10 million for the quarter, compared to analysts’ expectations of $31.14 million. During the same period in the previous year, the company posted ($0.11) EPS. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. On average, equities research analysts predict that Castlight Health, inc. will post ($0.25) EPS for the current fiscal year.
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In other Castlight Health, inc. news, insider Giovanni M. Colella sold 23,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $4.06, for a total transaction of $93,380.00. Following the sale, the insider now directly owns 78,906 shares of the company’s stock, valued at $320,358.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Giovanni M. Colella sold 11,456 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $3.75, for a total transaction of $42,960.00. Following the sale, the insider now directly owns 88,094 shares in the company, valued at $330,352.50. The disclosure for this sale can be found here. In the last three months, insiders sold 60,051 shares of company stock worth $233,723. 24.38% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of CSLT. State Street Corp boosted its stake in Castlight Health, inc. by 11.3% in the fourth quarter. State Street Corp now owns 663,065 shares of the software maker’s stock valued at $3,277,000 after buying an additional 67,459 shares during the period. Teachers Advisors LLC raised its position in shares of Castlight Health, inc. by 8.1% in the fourth quarter. Teachers Advisors LLC now owns 62,781 shares of the software maker’s stock valued at $311,000 after buying an additional 4,717 shares in the last quarter. Edge Wealth Management LLC acquired a new position in shares of Castlight Health, inc. during the first quarter valued at $172,000. Acadian Asset Management LLC acquired a new position in shares of Castlight Health, inc. during the first quarter valued at $329,000. Finally, Cowen Prime Services LLC acquired a new position in shares of Castlight Health, inc. during the first quarter valued at $183,000. 40.17% of the stock is currently owned by hedge funds and other 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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