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.
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.
TRADEMARK VIOLATION WARNING: “Castlight Health Inc (CSLT) Expected to Post Quarterly Sales of $36.20 Million” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this article on another publication, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/02/04/castlight-health-inc-cslt-expected-to-post-quarterly-sales-of-36-20-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Castlight Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Castlight Health and related companies with MarketBeat.com's FREE daily email newsletter.