Brokerages Anticipate Castlight Health (CSLT) Will Post Quarterly Sales of $36.67 Million

Analysts forecast that Castlight Health (NYSE:CSLT) will report $36.67 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Castlight Health’s earnings, with estimates ranging from $36.63 million to $36.71 million. Castlight Health reported sales of $32.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 14.2%. The company is scheduled to announce its next earnings report on Wednesday, August 1st.

On average, analysts expect that Castlight Health will report full year sales of $153.13 million for the current fiscal year, with estimates ranging from $152.40 million to $153.91 million. For the next fiscal year, analysts anticipate that the firm will report sales of $178.90 million per share, with estimates ranging from $175.17 million to $183.54 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Castlight Health.

Castlight Health (NYSE:CSLT) last announced its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Castlight Health had a negative net margin of 39.39% and a negative return on equity of 25.09%. The business had revenue of $37.00 million during the quarter, compared to analysts’ expectations of $36.36 million. During the same period last year, the business earned ($0.01) earnings per share. The business’s revenue for the quarter was up 23.7% on a year-over-year basis.

A number of equities research analysts have weighed in on the stock. Chardan Capital lifted their price target on shares of Castlight Health from $5.75 to $6.00 and gave the company a “buy” rating in a research report on Friday, May 11th. Cantor Fitzgerald reiterated a “buy” rating and set a $5.00 price target on shares of Castlight Health in a research report on Thursday, May 10th. ValuEngine upgraded shares of Castlight Health from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research cut shares of Castlight Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $5.25.

In other news, CEO John C. Doyle sold 10,644 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $3.63, for a total value of $38,637.72. Following the completion of the transaction, the chief executive officer now owns 157,422 shares of the company’s stock, valued at $571,441.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John C. Doyle sold 21,160 shares of the firm’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $3.79, for a total transaction of $80,196.40. Following the completion of the transaction, the chief executive officer now directly owns 165,672 shares of the company’s stock, valued at approximately $627,896.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,985 shares of company stock valued at $241,828. Company insiders own 37.43% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CSLT. Cowen Prime Services LLC boosted its stake in shares of Castlight Health by 727.5% in the fourth quarter. Cowen Prime Services LLC now owns 1,353,106 shares of the software maker’s stock valued at $5,074,000 after purchasing an additional 1,189,586 shares during the period. Folger Hill Asset Management LP purchased a new position in shares of Castlight Health in the fourth quarter valued at approximately $1,144,000. Deutsche Bank AG boosted its stake in shares of Castlight Health by 149.1% in the fourth quarter. Deutsche Bank AG now owns 142,486 shares of the software maker’s stock valued at $533,000 after purchasing an additional 85,297 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Castlight Health by 143.7% in the first quarter. Dimensional Fund Advisors LP now owns 136,143 shares of the software maker’s stock valued at $497,000 after purchasing an additional 80,270 shares during the period. Finally, Allianz Asset Management GmbH purchased a new position in shares of Castlight Health in the first quarter valued at approximately $180,000. 43.51% of the stock is owned by institutional investors and hedge funds.

Shares of CSLT opened at $3.80 on Friday. Castlight Health has a 1-year low of $3.77 and a 1-year high of $3.85. The stock has a market cap of $520.80 million, a price-to-earnings ratio of -14.62 and a beta of 1.38. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.02.

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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