Analysts Expect Castlight Health Inc (CSLT) Will Post Earnings of -$0.05 Per Share

Equities analysts predict that Castlight Health Inc (NYSE:CSLT) will announce earnings per share (EPS) of ($0.05) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Castlight Health’s earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at ($0.03). Castlight Health reported earnings per share of ($0.01) in the same quarter last year, which would indicate a negative year over year growth rate of 400%. The business is expected to report its next earnings report on Wednesday, February 21st.

According to Zacks, analysts expect that Castlight Health will report full-year earnings of ($0.23) per share for the current year, with EPS estimates ranging from ($0.24) to ($0.21). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.08) per share, with EPS estimates ranging from ($0.12) to ($0.04). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Castlight Health.

Castlight Health (NYSE:CSLT) last announced its quarterly earnings results on Wednesday, October 25th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. Castlight Health had a negative return on equity of 32.57% and a negative net margin of 45.14%. The company had revenue of $34.60 million during the quarter, compared to the consensus estimate of $34.61 million. During the same period in the prior year, the company earned ($0.05) earnings per share. The company’s revenue for the quarter was up 35.7% compared to the same quarter last year.

Several equities research analysts have issued reports on CSLT shares. Zacks Investment Research upgraded Castlight Health from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Monday, October 30th. Canaccord Genuity restated a “buy” rating and issued a $7.00 price target on shares of Castlight Health in a report on Thursday, October 26th. Chardan Capital decreased their price objective on Castlight Health from $6.50 to $6.30 and set a “buy” rating for the company in a report on Thursday, October 26th. Dougherty & Co reiterated a “buy” rating on shares of Castlight Health in a report on Thursday, August 17th. Finally, BidaskClub upgraded Castlight Health from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $5.22.

In related news, President Robert Derek Newell purchased 30,000 shares of Castlight Health stock in a transaction that occurred on Friday, October 27th. The stock was purchased at an average cost of $3.95 per share, with a total value of $118,500.00. Following the completion of the transaction, the president now owns 128,671 shares of the company’s stock, valued at approximately $508,250.45. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mangini Siobhan Nolan sold 8,866 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $3.70, for a total value of $32,804.20. Following the transaction, the chief financial officer now directly owns 78,561 shares of the company’s stock, valued at $290,675.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,778 shares of company stock valued at $84,411. 24.38% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CSLT. Voya Investment Management LLC boosted its position in Castlight Health by 25.4% during the second quarter. Voya Investment Management LLC now owns 26,929 shares of the software maker’s stock valued at $112,000 after purchasing an additional 5,453 shares during the last quarter. Nationwide Fund Advisors boosted its position in Castlight Health by 49.5% during the second quarter. Nationwide Fund Advisors now owns 36,418 shares of the software maker’s stock valued at $151,000 after purchasing an additional 12,061 shares during the last quarter. Stifel Financial Corp boosted its position in Castlight Health by 12.3% during the second quarter. Stifel Financial Corp now owns 41,000 shares of the software maker’s stock valued at $171,000 after purchasing an additional 4,500 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in Castlight Health during the second quarter valued at approximately $193,000. Finally, New York State Common Retirement Fund boosted its position in Castlight Health by 60.5% during the second quarter. New York State Common Retirement Fund now owns 49,600 shares of the software maker’s stock valued at $206,000 after purchasing an additional 18,699 shares during the last quarter. 42.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Castlight Health (NYSE CSLT) opened at $3.80 on Thursday. Castlight Health has a fifty-two week low of $3.05 and a fifty-two week high of $5.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.94 and a current ratio of 1.94.

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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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