Castlight Health Inc (CSLT) Expected to Post Quarterly Sales of $36.20 Million

Brokerages expect Castlight Health Inc (NYSE:CSLT) to report $36.20 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Castlight Health’s earnings. The highest sales estimate is $36.29 million and the lowest is $36.11 million. Castlight Health posted sales of $29.90 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.1%. The company is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that Castlight Health will report full-year sales of $36.20 million for the current fiscal year, with estimates ranging from $130.53 million to $132.00 million. For the next fiscal year, analysts forecast that the company will post sales of $159.55 million per share, with estimates ranging from $156.40 million to $164.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Castlight Health.

Several equities research analysts recently issued reports on CSLT shares. Zacks Investment Research upgraded shares of Castlight Health from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research report on Wednesday. Canaccord Genuity restated a “buy” rating and set a $7.00 price objective on shares of Castlight Health in a research report on Thursday, October 26th. Chardan Capital cut their price objective on shares of Castlight Health from $6.50 to $6.30 and set a “buy” rating for the company in a research report on Thursday, October 26th. BidaskClub upgraded shares of Castlight Health from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $5.00 price objective on shares of Castlight Health in a research report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Castlight Health currently has a consensus rating of “Hold” and a consensus target price of $5.11.

In other Castlight Health news, CEO John C. Doyle sold 13,686 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $3.71, for a total transaction of $50,775.06. Following the completion of the transaction, the chief executive officer now owns 123,705 shares of the company’s stock, valued at $458,945.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mangini Siobhan Nolan sold 8,866 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $3.70, for a total transaction of $32,804.20. Following the transaction, the chief financial officer now directly owns 78,561 shares of the company’s stock, valued at approximately $290,675.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,778 shares of company stock valued at $84,411. 37.43% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC boosted its stake 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 purchasing an additional 39,766 shares during the period. Swiss National Bank boosted its stake 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 purchasing an additional 68,700 shares during the period. Bank of New York Mellon Corp boosted its stake 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 purchasing an additional 77,011 shares during the period. Gagnon Securities LLC boosted its stake 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 purchasing an additional 47,398 shares during the period. Finally, California State Teachers Retirement System boosted its stake 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 purchasing an additional 32,200 shares during the period. 42.51% of the stock is owned by institutional investors and hedge funds.

Shares of Castlight Health (NYSE CSLT) opened at $3.65 on Friday. Castlight Health has a 12-month low of $3.05 and a 12-month high of $4.75. The stock has a market cap of $494.82, a PE ratio of -7.60 and a beta of 1.57. 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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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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