Analysts expect that Castlight Health Inc (NYSE:CSLT) will report $30.96 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Castlight Health’s earnings. The lowest sales estimate is $30.9 million and the highest is $31.05 million. Castlight Health reported sales of $23.59 million in the same quarter last year, which indicates a positive year over year growth rate of 31.2%. The business is scheduled to announce its next earnings results on Monday, August 14th.

According to Zacks, analysts expect that Castlight Health will report full-year sales of $30.96 million for the current fiscal year, with estimates ranging from $132.3 million to $134.27 million. For the next financial year, analysts forecast that the firm will post sales of $167.32 million per share, with estimates ranging from $155.1 million to $177.32 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Castlight Health.

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

CSLT has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Castlight Health from a “buy” rating to a “hold” rating in a report on Monday, April 10th. Canaccord Genuity reiterated a “hold” rating and set a $5.00 price target on shares of Castlight Health in a report on Friday, January 27th. Cowen and Company initiated coverage on Castlight Health in a report on Monday, January 30th. They set a “market perform” rating and a $4.00 price target for the company. Dougherty & Co initiated coverage on Castlight Health in a report on Wednesday, May 10th. They set a “buy” rating and a $5.50 price target for the company. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $4.50 price target on shares of Castlight Health in a report on Thursday, February 23rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $4.43.

COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Anticipate Castlight Health Inc (CSLT) Will Post Quarterly Sales of $30.96 Million” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another publication, it was copied illegally and republished in violation of international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/05/26/zacks-brokerages-anticipate-castlight-health-inc-cslt-will-post-quarterly-sales-of-30-96-million.html.

In other news, insider Giovanni M. Colella sold 11,456 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $3.75, for a total transaction of $42,960.00. Following the transaction, the insider now owns 88,094 shares of the company’s stock, valued at approximately $330,352.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Priya Jain sold 7,858 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $3.65, for a total transaction of $28,681.70. Following the transaction, the chief accounting officer now directly owns 20,000 shares in the company, valued at approximately $73,000. The disclosure for this sale can be found here. Insiders have sold a total of 37,051 shares of company stock worth $140,343 in the last three months. Insiders own 37.43% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Oxford Asset Management bought a new position in Castlight Health during the first quarter worth about $102,000. Teza Capital Management LLC bought a new position in Castlight Health during the fourth quarter worth about $116,000. Stifel Financial Corp boosted its position in Castlight Health by 4.3% in the first quarter. Stifel Financial Corp now owns 36,500 shares of the software maker’s stock worth $133,000 after buying an additional 1,500 shares during the period. FNY Partners Fund LP bought a new position in Castlight Health during the first quarter worth about $164,000. Finally, Edge Wealth Management LLC bought a new position in Castlight Health during the first quarter worth about $172,000. 51.03% of the stock is currently owned by institutional investors.

Castlight Health (NYSE:CSLT) traded down 1.35% on Friday, reaching $3.65. The company’s stock had a trading volume of 75,668 shares. The stock’s 50 day moving average price is $3.90 and its 200 day moving average price is $3.96. Castlight Health has a 12 month low of $3.05 and a 12 month high of $5.50. The company’s market cap is $476.38 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.

12 Month Chart for NYSE:CSLT

Get a free copy of the Zacks research report on Castlight Health (CSLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Castlight Health Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Castlight Health Inc and related companies with MarketBeat.com's FREE daily email newsletter.