Zacks: Analysts Anticipate Castlight Health Inc (CSLT) Will Announce Quarterly Sales of $36.93 Million

Equities research analysts forecast that Castlight Health Inc (NYSE:CSLT) will report sales of $36.93 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Castlight Health’s earnings, with the lowest sales estimate coming in at $36.11 million and the highest estimate coming in at $38.40 million. Castlight Health posted sales of $29.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.5%. The business is expected to report its next earnings report on Wednesday, February 21st.

On average, analysts expect that Castlight Health will report full year sales of $36.93 million for the current year, with estimates ranging from $130.53 million to $132.00 million. For the next financial year, analysts expect that the company will report sales of $163.82 million per share, with estimates ranging from $156.40 million to $169.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Castlight Health.

Castlight Health (NYSE:CSLT) last released its earnings results on Wednesday, October 25th. The software maker reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. Castlight Health had a negative net margin of 45.14% and a negative return on equity of 32.57%. The firm had revenue of $34.60 million during the quarter, compared to analyst estimates of $34.61 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 35.7% compared to the same quarter last year.

Several research firms have weighed in on CSLT. 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 research note on Monday, October 30th. Cantor Fitzgerald reissued a “hold” rating and set a $5.00 price target on shares of Castlight Health in a report on Wednesday, October 25th. BidaskClub downgraded shares of Castlight Health from a “sell” rating to a “strong sell” rating in a report on Thursday, November 9th. Canaccord Genuity reissued a “buy” rating and set a $7.00 price target on shares of Castlight Health in a report on Thursday, October 26th. Finally, Chardan Capital reduced their price target 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. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Castlight Health has an average rating of “Hold” and a consensus price target of $5.22.

In related news, President Robert Derek Newell acquired 30,000 shares of Castlight Health stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average price of $3.95 per share, with a total value of $118,500.00. Following the completion of the acquisition, the president now directly owns 128,671 shares of the company’s stock, valued at approximately $508,250.45. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John C. Doyle sold 13,686 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $3.71, for a total transaction of $50,775.06. Following the completion of the sale, 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. In the last three months, insiders have sold 22,778 shares of company stock valued at $84,411. Corporate insiders own 37.43% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC lifted its holdings in Castlight Health by 25.4% in the second quarter. Voya Investment Management LLC now owns 26,929 shares of the software maker’s stock worth $112,000 after purchasing an additional 5,453 shares during the period. Nationwide Fund Advisors lifted its holdings 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 acquiring an additional 12,061 shares during the last quarter. Stifel Financial Corp lifted its holdings 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 acquiring an additional 4,500 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Castlight Health in the 2nd quarter valued at about $193,000. Finally, New York State Common Retirement Fund lifted its holdings 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 acquiring an additional 18,699 shares during the last quarter. 42.55% of the stock is owned by institutional investors and hedge funds.

Castlight Health (NYSE:CSLT) traded up $0.15 during mid-day trading on Friday, reaching $3.90. 608,316 shares of the company’s stock traded hands, compared to its average volume of 276,781. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.94 and a quick ratio of 1.94. Castlight Health has a 12-month low of $3.05 and a 12-month high of $5.50.

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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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