Castlight Health Inc (CSLT) Expected to Announce Quarterly Sales of $36.93 Million

Wall Street analysts expect Castlight Health Inc (NYSE:CSLT) to report $36.93 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Castlight Health’s earnings. The lowest sales estimate is $36.11 million and the highest is $38.40 million. Castlight Health reported sales of $29.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 23.5%. The firm is expected to issue its next earnings results on Wednesday, February 21st.

According to Zacks, analysts expect that Castlight Health will report full year sales of $36.93 million for the current year, with estimates ranging from $130.53 million to $132.00 million. For the next financial year, analysts anticipate that the company will report sales of $163.82 million per share, with estimates ranging from $156.40 million to $169.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Castlight Health.

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

Several research analysts have commented on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and set a $5.00 price objective on shares of Castlight Health in a research note on Wednesday, October 25th. BidaskClub lowered shares of Castlight Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 9th. Canaccord Genuity reaffirmed a “buy” rating and set a $7.00 price objective on shares of Castlight Health in a research note on Thursday, October 26th. Zacks Investment Research lowered shares of Castlight Health from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Chardan Capital lowered their target price on shares of Castlight Health from $6.50 to $6.30 and set a “buy” rating for the company in a research note on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $5.22.

Castlight Health (CSLT) traded up $0.05 during midday trading on Tuesday, reaching $3.80. 248,600 shares of the company’s stock traded hands, compared to its average volume of 258,900. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.94 and a quick ratio of 1.94. The stock has a market capitalization of $501.52, a price-to-earnings ratio of -8.09 and a beta of 1.66. Castlight Health has a 52 week low of $3.05 and a 52 week high of $5.10.

In related news, CFO Mangini Siobhan Nolan sold 8,866 shares of Castlight Health stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $3.70, for a total value of $32,804.20. Following the completion of the sale, the chief financial officer now directly owns 78,561 shares in the company, valued at $290,675.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Robert Derek Newell acquired 30,468 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was purchased at an average price of $3.95 per share, with a total value of $120,348.60. Following the completion of the acquisition, the president now directly owns 128,671 shares of the company’s stock, valued at $508,250.45. The disclosure for this purchase can be found here. Insiders have sold 22,778 shares of company stock valued at $84,411 over the last three months. Insiders own 24.38% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC raised its holdings in shares of Castlight Health by 37.8% in the third quarter. Citadel Advisors LLC now owns 144,936 shares of the software maker’s stock valued at $623,000 after acquiring an additional 39,766 shares in the last quarter. Swiss National Bank raised its holdings in shares of Castlight Health by 173.3% in the third quarter. Swiss National Bank now owns 108,350 shares of the software maker’s stock valued at $466,000 after acquiring an additional 68,700 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Castlight Health by 52.9% in the second quarter. Bank of New York Mellon Corp now owns 222,660 shares of the software maker’s stock valued at $924,000 after acquiring an additional 77,011 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Castlight Health by 39.7% in the second quarter. California State Teachers Retirement System now owns 113,399 shares of the software maker’s stock valued at $471,000 after acquiring an additional 32,200 shares in the last quarter. Finally, Gagnon Securities LLC raised its holdings in shares of Castlight Health by 3.3% in the third quarter. Gagnon Securities LLC now owns 1,484,726 shares of the software maker’s stock valued at $6,384,000 after acquiring an additional 47,398 shares in the last quarter. Hedge funds and other institutional investors own 42.55% of the company’s stock.

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Castlight Health Company Profile

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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