Castlight Health Inc. (CSLT) Receives Average Rating of “Hold” from Brokerages
Castlight Health Inc. (NYSE:CSLT) has earned an average rating of “Hold” from the nine analysts that are covering the stock. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $4.79.
A number of research analysts have recently commented on CSLT shares. Canaccord Genuity restated a “hold” rating and issued a $5.00 target price on shares of Castlight Health in a research note on Thursday, August 11th. Zacks Investment Research cut Castlight Health from a “buy” rating to a “sell” rating in a research note on Tuesday, July 19th. Morgan Stanley restated a “hold” rating and issued a $4.00 target price on shares of Castlight Health in a research note on Thursday, August 25th. Finally, FBR & Co restated a “hold” rating and issued a $4.00 target price on shares of Castlight Health in a research note on Wednesday, August 10th.
In other news, insider Jonathan Rende sold 8,286 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $4.25, for a total value of $35,215.50. Following the completion of the transaction, the insider now owns 70,791 shares in the company, valued at $300,861.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.43% of the stock is owned by insiders.
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Hedge funds have recently modified their holdings of the company. Prudential PLC raised its stake in shares of Castlight Health by 88.7% in the first quarter. Prudential PLC now owns 3,237,882 shares of the company’s stock valued at $10,782,000 after buying an additional 1,521,759 shares during the last quarter. FMR LLC raised its stake in shares of Castlight Health by 11.9% in the second quarter. FMR LLC now owns 7,071,738 shares of the company’s stock valued at $28,004,000 after buying an additional 750,309 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of 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. Spark Investment Management LLC purchased a new stake in shares of Castlight Health during the first quarter valued at approximately $537,000. Finally, Westpac Banking Corp purchased a new stake in shares of Castlight Health during the second quarter valued at approximately $639,000. 51.35% of the stock is owned by institutional investors.
Shares of Castlight Health (NYSE:CSLT) traded up 0.414% on Thursday, reaching $4.127. The company’s stock had a trading volume of 54,518 shares. Castlight Health has a 52-week low of $2.54 and a 52-week high of $5.39. The stock has a 50-day moving average of $4.14 and a 200 day moving average of $3.99. The company’s market cap is $423.84 million.
Castlight Health (NYSE:CSLT) last released its earnings results on Monday, August 8th. The company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. The company earned $23.60 million during the quarter, compared to analysts’ expectations of $23.09 million. Castlight Health had a negative return on equity of 62.65% and a negative net margin of 88.48%. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) EPS. On average, equities research analysts forecast that Castlight Health will post ($0.40) earnings per share for the current year.
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 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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