-$0.15 Earnings Per Share Expected for Castlight Health Inc (CSLT) This Quarter
Equities research analysts expect that Castlight Health Inc (NYSE:CSLT) will post earnings per share of ($0.15) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Castlight Health’s earnings. Castlight Health posted earnings of ($0.16) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.3%. The company is expected to report its next quarterly earnings results on Monday, August 14th.
According to Zacks, analysts expect that Castlight Health will report full-year earnings of ($0.47) per share for the current year, with EPS estimates ranging from ($0.48) to ($0.45). For the next financial year, analysts anticipate that the company will report earnings of ($0.33) per share, with EPS estimates ranging from ($0.40) to ($0.29). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Castlight Health.
Castlight Health (NYSE:CSLT) last announced its quarterly earnings results on Wednesday, April 26th. The software maker reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm 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 business’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) earnings per share.
Several equities analysts have commented on CSLT shares. Cowen and Company started coverage on shares of Castlight Health in a research report on Monday, January 30th. They set a “market perform” rating and a $4.00 target price on the stock. Zacks Investment Research raised shares of Castlight Health from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a report on Wednesday, February 22nd. Canaccord Genuity reaffirmed a “hold” rating and issued a $5.00 price target on shares of Castlight Health in a report on Friday, January 27th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $4.50 price target on shares of Castlight Health in a report on Thursday, February 23rd. Finally, Morgan Stanley cut shares of Castlight Health from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $4.00 to $3.75 in a report on Friday, May 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $4.43.
In related news, insider Giovanni M. Colella sold 11,456 shares of Castlight Health 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 completion of the transaction, the insider now directly owns 88,094 shares in the company, valued at approximately $330,352.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Priya Jain sold 7,858 shares of Castlight Health stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $3.65, for a total transaction of $28,681.70. Following the completion of the transaction, the chief accounting officer now owns 20,000 shares of the company’s stock, valued at $73,000. The disclosure for this sale can be found here. Insiders sold a total of 37,051 shares of company stock valued at $140,343 over the last quarter. 37.43% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in Castlight Health by 12.8% in the fourth quarter. Renaissance Technologies LLC now owns 902,190 shares of the software maker’s stock worth $4,466,000 after buying an additional 102,690 shares during the period. AWM Investment Company Inc. purchased a new position in Castlight Health during the third quarter worth approximately $1,664,000. FMR LLC raised its position in Castlight Health by 2.3% in the fourth quarter. FMR LLC now owns 7,411,115 shares of the software maker’s stock worth $36,685,000 after buying an additional 166,074 shares during the period. Arrowpoint Asset Management LLC raised its position in 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, State Street Corp raised its position in Castlight Health by 11.3% in the fourth quarter. State Street Corp now owns 663,065 shares of the software maker’s stock worth $3,277,000 after buying an additional 67,459 shares during the period. Hedge funds and other institutional investors own 51.03% of the company’s stock.
Shares of Castlight Health (NYSE:CSLT) traded down 1.33% during trading on Wednesday, reaching $3.70. The company’s stock had a trading volume of 143,820 shares. Castlight Health has a 12 month low of $3.05 and a 12 month high of $5.50. The stock’s 50 day moving average price is $3.91 and its 200-day moving average price is $3.96. The firm’s market cap is $482.90 million.
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 technology offering aggregates data and applies analytics to make healthcare data transparent.
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