Castlight Health Inc (NYSE:CSLT) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Castlight Health from a “buy” rating to a “hold” rating in a research report on Monday, April 10th. Cowen and Company started coverage on Castlight Health in a research report on Monday, January 30th. They issued a “market perform” rating and a $4.00 target price on the stock. Canaccord Genuity reiterated a “hold” rating and issued a $5.00 target price on shares of Castlight Health in a research report on Friday, January 27th. Dougherty & Co started coverage on Castlight Health in a research report on Wednesday, May 10th. They issued a “buy” rating and a $5.50 target price on the stock. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $4.50 target price on shares of Castlight Health in a research report on Thursday, February 23rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $4.43.

Analyst Recommendations for Castlight Health (NYSE:CSLT)

Shares of Castlight Health (NYSE:CSLT) traded down 2.67% during trading on Friday, hitting $3.65. The stock had a trading volume of 304,967 shares. Castlight Health has a 12 month low of $3.05 and a 12 month high of $5.50. The stock has a 50 day moving average of $3.91 and a 200 day moving average of $3.97. The company’s market cap is $476.38 million.

Castlight Health (NYSE:CSLT) last posted its earnings results on Wednesday, April 26th. The software maker reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $27.70 million for the quarter, compared to the consensus estimate of $28.40 million. Castlight Health had a negative return on equity of 58.57% and a negative net margin of 73.57%. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.13) earnings per share. Equities analysts forecast that Castlight Health will post ($0.26) EPS for the current fiscal year.

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In other Castlight Health news, CAO Priya Jain sold 7,858 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $3.65, for a total transaction of $28,681.70. Following the sale, the chief accounting officer now directly owns 20,000 shares in the company, valued at $73,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Giovanni M. Colella sold 11,456 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $3.75, for a total value of $42,960.00. Following the sale, the insider now owns 88,094 shares in the company, valued at $330,352.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,080 shares of company stock worth $194,702. Company insiders own 37.43% of the company’s stock.

Large investors have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Castlight Health by 3.4% in the first quarter. FMR LLC now owns 7,665,919 shares of the software maker’s stock worth $27,980,000 after buying an additional 254,804 shares during the period. Vanguard Group Inc. increased its stake in shares of Castlight Health by 7.6% in the first quarter. Vanguard Group Inc. now owns 2,673,760 shares of the software maker’s stock worth $9,760,000 after buying an additional 189,359 shares during the period. Gagnon Securities LLC increased its stake in shares of Castlight Health by 2.5% in the first quarter. Gagnon Securities LLC now owns 1,446,792 shares of the software maker’s stock worth $5,281,000 after buying an additional 35,374 shares during the period. Arrowpoint Asset Management LLC increased its stake in shares of Castlight Health by 22.6% in the fourth quarter. Arrowpoint Asset Management LLC now owns 1,355,957 shares of the software maker’s stock worth $6,712,000 after buying an additional 249,841 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Castlight Health by 2.3% in the first quarter. Renaissance Technologies LLC now owns 922,800 shares of the software maker’s stock worth $3,368,000 after buying an additional 20,610 shares during the period. Institutional investors and hedge funds own 51.03% of the company’s stock.

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 technology offering aggregates data and applies analytics to make healthcare data transparent.

5 Day Chart for NYSE:CSLT

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