Zacks: Brokerages Expect Castlight Health Inc (CSLT) Will Post Quarterly Sales of $40.61 Million

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Wall Street brokerages predict that Castlight Health Inc (NYSE:CSLT) will report $40.61 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Castlight Health’s earnings. The highest sales estimate is $40.80 million and the lowest is $40.48 million. Castlight Health posted sales of $37.01 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.7%. The firm is scheduled to issue its next earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that Castlight Health will report full-year sales of $154.69 million for the current year, with estimates ranging from $154.00 million to $155.10 million. For the next year, analysts expect that the company will post sales of $157.22 million, with estimates ranging from $151.67 million to $166.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Castlight Health.

Several analysts have recently issued reports on CSLT shares. William Blair reiterated an “outperform” rating on shares of Castlight Health in a research report on Thursday, December 20th. Zacks Investment Research upgraded shares of Castlight Health from a “hold” rating to a “strong-buy” rating and set a $3.25 target price on the stock in a research report on Friday, November 9th. Cantor Fitzgerald reiterated a “buy” rating and issued a $5.00 target price on shares of Castlight Health in a research report on Monday, December 17th. ValuEngine upgraded shares of Castlight Health from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Dougherty & Co dropped their target price on shares of Castlight Health from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $4.81.

CSLT stock opened at $3.22 on Thursday. The firm has a market cap of $442.94 million, a P/E ratio of -12.38 and a beta of 1.53. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.02. Castlight Health has a one year low of $1.86 and a one year high of $5.95.

In other news, CFO Mangini Siobhan Nolan sold 13,997 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $2.62, for a total value of $36,672.14. Following the transaction, the chief financial officer now directly owns 192,058 shares of the company’s stock, valued at $503,191.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John C. Doyle sold 18,519 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $2.69, for a total transaction of $49,816.11. Following the completion of the transaction, the chief executive officer now directly owns 268,523 shares in the company, valued at $722,326.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,112 shares of company stock worth $236,010. Company insiders own 22.58% of the company’s stock.

Several large investors have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Castlight Health by 2.0% in the third quarter. FMR LLC now owns 12,875,544 shares of the software maker’s stock worth $34,764,000 after buying an additional 254,663 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Castlight Health by 14.5% in the fourth quarter. BlackRock Inc. now owns 6,614,210 shares of the software maker’s stock worth $14,353,000 after buying an additional 839,880 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Castlight Health by 5.0% in the third quarter. Vanguard Group Inc. now owns 6,263,568 shares of the software maker’s stock worth $16,911,000 after buying an additional 300,834 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Castlight Health by 5.0% in the third quarter. Vanguard Group Inc now owns 6,263,568 shares of the software maker’s stock worth $16,911,000 after buying an additional 300,834 shares in the last quarter. Finally, Gagnon Securities LLC lifted its stake in shares of Castlight Health by 35.8% in the third quarter. Gagnon Securities LLC now owns 2,606,703 shares of the software maker’s stock worth $7,038,000 after buying an additional 687,428 shares in the last quarter. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

Castlight Health Company Profile

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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