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Shares of Castlight Health (NASDAQ:CSLT) saw strong trading volume on Wednesday after the company announced better than expected quarterly earnings, American Banking & Market News reports. 1,207,229 shares were traded during trading, an increase of 168% from the previous session’s volume of 450,778 shares.The stock last traded at $11.16 and had previously closed at $11.35.

The company reported ($0.24) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.25) by $0.01.

Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Castlight Health in a research note on Wednesday, July 30th. They now have a $19.00 price target on the stock, up previously from $15.00. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $19.00.

The stock has a 50-day moving average of $13.62 and a 200-day moving average of $16.80. The company’s market cap is $997.2 million.

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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