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. “
A number of other analysts also recently issued reports on the stock. Morgan Stanley reaffirmed a hold rating and set a $4.00 price target on shares of Castlight Health in a report on Thursday, August 25th. Canaccord Genuity reaffirmed a hold rating and set a $5.00 price target on shares of Castlight Health in a report on Sunday, September 11th. Finally, FBR & Co reaffirmed a hold rating and set a $4.00 price target on shares of Castlight Health in a report on Wednesday, August 10th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Castlight Health presently has an average rating of Hold and a consensus price target of $4.67.
Castlight Health (NYSE:CSLT) opened at 4.14 on Tuesday. Castlight Health has a one year low of $2.54 and a one year high of $5.39. The stock has a 50 day moving average of $4.13 and a 200-day moving average of $3.99. The company’s market cap is $425.17 million.
Castlight Health (NYSE:CSLT) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $23.60 million for the quarter, compared to the consensus estimate of $23.09 million. Castlight Health had a negative net margin of 88.48% and a negative return on equity of 62.65%. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) EPS. On average, equities analysts predict that Castlight Health will post ($0.40) EPS for the current fiscal year.
In other Castlight Health news, insider Jonathan Rende sold 8,286 shares of Castlight Health stock in a transaction that occurred on 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 $300,861.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 37.43% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BlackRock Institutional Trust Company N.A. increased 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 valued at $3,554,000 after buying an additional 19,460 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Castlight Health by 30.7% in the second quarter. BlackRock Fund Advisors now owns 1,055,397 shares of the company’s stock valued at $4,179,000 after buying an additional 247,845 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in Castlight Health by 18.9% in the second quarter. BlackRock Investment Management LLC now owns 140,360 shares of the company’s stock valued at $556,000 after buying an additional 22,265 shares during the last quarter. Westpac Banking Corp bought a new stake in Castlight Health during the second quarter valued at about $639,000. Finally, Concourse Capital Management LLC boosted its stake in Castlight Health by 13.4% in the second quarter. Concourse Capital Management LLC now owns 68,286 shares of the company’s stock valued at $270,000 after buying an additional 8,046 shares during the last quarter. 51.35% 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.
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