BidaskClub Upgrades Castlight Health, inc. (CSLT) to Sell

Castlight Health, inc. (NYSE:CSLT) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Wednesday.

Several other brokerages have also weighed in on CSLT. Cowen and Company reaffirmed a “market perform” rating and issued a $4.50 target price (up from $4.00) on shares of Castlight Health, inc. in a research report on Thursday, August 3rd. ValuEngine raised Castlight Health, inc. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised Castlight Health, inc. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Dougherty & Co reaffirmed a “buy” rating on shares of Castlight Health, inc. in a research report on Thursday, August 17th. Finally, Chardan Capital began coverage on Castlight Health, inc. in a research report on Tuesday, June 6th. They issued a “buy” rating and a $4.50 target price on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.57.

Shares of Castlight Health, inc. (CSLT) opened at 4.12 on Wednesday. Castlight Health, inc. has a 1-year low of $3.05 and a 1-year high of $5.50. The firm’s market cap is $543.21 million. The firm’s 50-day moving average price is $4.00 and its 200 day moving average price is $3.88.

Castlight Health, inc. (NYSE:CSLT) last issued its earnings results on Wednesday, August 2nd. The software maker reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. The business had revenue of $32.10 million for the quarter, compared to analyst estimates of $31.14 million. Castlight Health, inc. had a negative return on equity of 36.30% and a negative net margin of 42.54%. The business’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period last year, the company posted ($0.11) EPS. On average, equities research analysts forecast that Castlight Health, inc. will post ($0.25) EPS for the current fiscal year.

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In related news, insider Giovanni M. Colella sold 23,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $4.06, for a total value of $93,380.00. Following the completion of the sale, the insider now directly owns 78,906 shares in the company, valued at approximately $320,358.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Giovanni M. Colella sold 26,800 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $3.89, for a total value of $104,252.00. Following the completion of the sale, the insider now owns 78,906 shares of the company’s stock, valued at $306,944.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 208,287 shares of company stock valued at $795,240. 37.43% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CSLT. FMR LLC increased its holdings in Castlight Health, inc. by 49.2% in the 2nd quarter. FMR LLC now owns 11,433,928 shares of the software maker’s stock valued at $47,451,000 after purchasing an additional 3,768,009 shares in the last quarter. General Electric Co. acquired a new stake in Castlight Health, inc. in the 2nd quarter valued at $4,338,000. Vanguard Group Inc. increased its holdings in Castlight Health, inc. by 36.0% in the 2nd quarter. Vanguard Group Inc. now owns 3,636,948 shares of the software maker’s stock valued at $15,094,000 after purchasing an additional 963,188 shares in the last quarter. GMT Capital Corp acquired a new stake in Castlight Health, inc. in the 1st quarter valued at $2,568,000. Finally, Granite Investment Partners LLC acquired a new stake in Castlight Health, inc. in the 2nd quarter valued at $1,613,000. Hedge funds and other institutional investors own 41.30% of the company’s stock.

Castlight Health, inc. 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.

Analyst Recommendations for Castlight Health, inc. (NYSE:CSLT)

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