Castlight Health (CSLT) Announces Quarterly Earnings Results, Misses Expectations By $0.50 EPS
Castlight Health (NASDAQ:CSLT) announced its earnings results on Wednesday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by $0.50, ARN reports. The company had revenue of $8.40 million for the quarter, compared to the consensus estimate of $6.51 million. The company’s revenue for the quarter was up 342.1% on a year-over-year basis. Castlight Health updated its Q2 guidance to (0.23)-($0.22) EPS and its FY14 guidance to ($1.03)-($1.01) EPS.
A number of analysts have recently weighed in on CSLT shares. Analysts at Zacks initiated coverage on shares of Castlight Health in a research note on Wednesday, April 16th. They set a “hold” rating on the stock. On a related note, analysts at Raymond James initiated coverage on shares of Castlight Health in a research note on Tuesday, April 8th. They set an “outperform” rating and a $26.00 price target on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Castlight Health in a research note on Tuesday, April 8th. They set a “buy” rating and a $25.00 price target on the stock. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $24.25.
Shares of Castlight Health (NASDAQ:CSLT) traded down 14.99% during mid-day trading on Wednesday, hitting $11.80. 1,754,068 shares of the company’s stock traded hands. Castlight Health has a 52 week low of $13.39 and a 52 week high of $41.95. The stock’s 50-day moving average is $20.2 and its 200-day moving average is $21.27. The company’s market cap is $1.022 billion.
Castlight Health, Inc is a provider of cloud-based software, that enables enterprises to gain control over their rapidly escalating health care costs.
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