Zacks: Brokerages Anticipate Castlight Health Inc (CSLT) Will Post Quarterly Sales of $30.96 Million
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.
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.
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.