Castlight Health, inc. (NYSE:CSLT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $4.50 target price on the software maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 15.38% from the company’s previous close.

According to Zacks, “Castlight Health, Inc. operates as a provider of cloud-based software. Its enables enterprises to gain control over their rapidly escalating health care costs. The Company’s Enterprise Healthcare Cloud allows its customers to conquer the complexity of the existing health care system by providing personalized, actionable information to their employees, implementing technology-enabled benefit designs and integrating disparate systems and applications. Castlight Health, Inc. is headquartered in San Francisco, California. “

A number of other equities analysts also recently commented on CSLT. ValuEngine downgraded shares of Castlight Health, inc. from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $7.00 target price on shares of Castlight Health, inc. in a research note on Thursday. Dougherty & Co reaffirmed a “buy” rating on shares of Castlight Health, inc. in a research note on Thursday, August 17th. BidaskClub downgraded shares of Castlight Health, inc. from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Finally, Chardan Capital reduced their price target on shares of Castlight Health, inc. from $6.50 to $6.30 and set a “buy” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Castlight Health, inc. currently has an average rating of “Hold” and a consensus price target of $5.22.

Castlight Health, inc. (NYSE CSLT) traded down 1.27% during trading on Monday, hitting $3.90. The stock had a trading volume of 200,252 shares. The company’s market cap is $513.58 million. The company has a 50-day moving average price of $4.23 and a 200-day moving average price of $4.05. Castlight Health, inc. has a 52-week low of $3.05 and a 52-week high of $5.50.

Castlight Health, inc. (NYSE:CSLT) last issued its earnings results on Wednesday, October 25th. The software maker reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. Castlight Health, inc. had a negative net margin of 45.14% and a negative return on equity of 35.70%. The company had revenue of $34.60 million for the quarter, compared to the consensus estimate of $34.61 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. Castlight Health, inc.’s quarterly revenue was up 35.7% compared to the same quarter last year. Equities research analysts forecast that Castlight Health, inc. will post ($0.23) EPS for the current year.

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In related news, CFO Mangini Siobhan Nolan sold 28,639 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $3.66, for a total transaction of $104,818.74. Following the sale, the chief financial officer now directly owns 41,622 shares of the company’s stock, valued at approximately $152,336.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John C. Doyle sold 35,184 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $3.65, for a total transaction of $128,421.60. Following the sale, the chief executive officer now directly owns 75,639 shares in the company, valued at $276,082.35. The disclosure for this sale can be found here. Insiders sold a total of 208,287 shares of company stock worth $795,240 over the last three months. Insiders own 24.38% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in Castlight Health, inc. during the 2nd quarter worth approximately $264,000. California State Teachers Retirement System increased its stake in Castlight Health, inc. by 39.7% during the 2nd quarter. California State Teachers Retirement System now owns 113,399 shares of the software maker’s stock worth $471,000 after buying an additional 32,200 shares during the period. The Manufacturers Life Insurance Company increased its stake in Castlight Health, inc. by 59.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,233 shares of the software maker’s stock worth $233,000 after buying an additional 20,983 shares during the period. State Street Corp increased its stake in Castlight Health, inc. by 48.1% during the 2nd quarter. State Street Corp now owns 973,648 shares of the software maker’s stock worth $4,037,000 after buying an additional 316,319 shares during the period. Finally, Maverick Capital Ltd. increased its stake in Castlight Health, inc. by 2.8% during the 2nd quarter. Maverick Capital Ltd. now owns 1,221,809 shares of the software maker’s stock worth $5,071,000 after buying an additional 33,735 shares during the period. 41.29% of the stock is currently owned by hedge funds and other institutional investors.

About Castlight Health, inc.

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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Analyst Recommendations for Castlight Health, inc. (NYSE:CSLT)

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