Castlight Health Inc (CSLT) Expected to Announce Earnings of -$0.03 Per Share

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Brokerages expect that Castlight Health Inc (NYSE:CSLT) will post earnings of ($0.03) per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Castlight Health’s earnings, with the highest EPS estimate coming in at ($0.02) and the lowest estimate coming in at ($0.04). Castlight Health reported earnings of ($0.05) per share during the same quarter last year, which indicates a positive year over year growth rate of 40%. The company is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, November 6th.

According to Zacks, analysts expect that Castlight Health will report full-year earnings of ($0.13) per share for the current financial year, with EPS estimates ranging from ($0.15) to ($0.12). For the next year, analysts expect that the firm will report earnings of $0.01 per share, with EPS estimates ranging from ($0.03) to $0.04. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Castlight Health.

Castlight Health (NYSE:CSLT) last posted its quarterly earnings results on Monday, July 30th. The software maker reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). Castlight Health had a negative net margin of 38.02% and a negative return on equity of 22.89%. The company had revenue of $37.70 million for the quarter, compared to analysts’ expectations of $36.85 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. Castlight Health’s revenue was up 15.6% on a year-over-year basis.

CSLT has been the topic of a number of analyst reports. William Blair reissued a “buy” rating on shares of Castlight Health in a report on Thursday, October 18th. Cantor Fitzgerald reissued a “buy” rating and set a $5.00 target price on shares of Castlight Health in a report on Friday, August 17th. Dougherty & Co boosted their target price on shares of Castlight Health from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, July 23rd. ValuEngine raised shares of Castlight Health from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Finally, Zacks Investment Research raised shares of Castlight Health from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Castlight Health has a consensus rating of “Buy” and an average price target of $5.56.

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Castlight Health by 2.1% in the second quarter. FMR LLC now owns 12,620,881 shares of the software maker’s stock worth $53,639,000 after purchasing an additional 254,616 shares during the period. BlackRock Inc. grew its position in Castlight Health by 30.4% in the second quarter. BlackRock Inc. now owns 4,637,348 shares of the software maker’s stock worth $19,710,000 after acquiring an additional 1,081,140 shares in the last quarter. Cortina Asset Management LLC purchased a new position in Castlight Health in the second quarter worth $8,786,000. Gagnon Securities LLC grew its position in Castlight Health by 34.8% in the second quarter. Gagnon Securities LLC now owns 1,919,275 shares of the software maker’s stock worth $8,157,000 after acquiring an additional 495,534 shares in the last quarter. Finally, Cowen Prime Services LLC grew its position in Castlight Health by 9.2% in the second quarter. Cowen Prime Services LLC now owns 1,754,106 shares of the software maker’s stock worth $7,455,000 after acquiring an additional 147,900 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

CSLT stock traded up $0.09 during midday trading on Thursday, reaching $2.43. 706,887 shares of the company’s stock traded hands, compared to its average volume of 557,213. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.85 and a quick ratio of 1.85. Castlight Health has a 52 week low of $2.20 and a 52 week high of $5.95. The stock has a market capitalization of $338.89 million, a price-to-earnings ratio of -9.35 and a beta of 1.15.

About Castlight Health

Castlight Health, Inc provides a software-as-a-service platform used for health benefits navigation for employees in the United States. Its platform matches employees to the resources their employers make available to them; managing a condition; and assists them to manage their benefits. The company also offers communication and testing, implementation, and user customer support services.

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