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

Analysts expect that Castlight Health (NYSE:CSLT) will report $36.67 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Castlight Health’s earnings. The lowest sales estimate is $36.63 million and the highest is $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 business is scheduled to announce its next earnings results on Wednesday, August 1st.

According to Zacks, 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 financial year, analysts forecast that the firm will post sales of $178.90 million per share, with estimates ranging from $175.17 million to $183.54 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Castlight Health.

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

CSLT has been the subject of several research analyst reports. Cantor Fitzgerald raised shares of Castlight Health from a “neutral” rating to an “overweight” rating and set a $5.00 target price for the company in a research note on Tuesday, January 30th. ValuEngine raised shares of Castlight Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 4th. Zacks Investment Research raised shares of Castlight Health from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Wednesday, January 31st. Finally, Chardan Capital reaffirmed a “buy” rating and set a $5.75 target price (down from $6.30) on shares of Castlight Health in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.25.

In other Castlight Health news, CFO Mangini Siobhan Nolan sold 14,430 shares of Castlight Health stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $3.80, for a total value of $54,834.00. Following the completion of the transaction, the chief financial officer now directly owns 121,413 shares of the company’s stock, valued at approximately $461,369.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Doyle sold 10,644 shares of Castlight Health stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $3.63, for a total transaction of $38,637.72. Following the completion of the transaction, the chief executive officer now directly owns 157,422 shares of the company’s stock, valued at $571,441.86. The disclosure for this sale can be found here. Insiders sold a total of 64,985 shares of company stock valued at $241,828 over the last three months. Corporate insiders own 37.43% of the company’s stock.

Large investors have recently modified their holdings of the business. MetLife Investment Advisors LLC purchased a new position in shares of Castlight Health in the 4th quarter worth $126,000. First Quadrant L P CA purchased a new position in shares of Castlight Health in the 4th quarter worth $167,000. Allianz Asset Management GmbH purchased a new position in shares of Castlight Health in the 1st quarter worth $180,000. Swiss National Bank grew its stake in shares of Castlight Health by 13.1% in the 1st quarter. Swiss National Bank now owns 122,550 shares of the software maker’s stock worth $447,000 after buying an additional 14,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Castlight Health by 143.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 136,143 shares of the software maker’s stock worth $497,000 after buying an additional 80,270 shares in the last quarter. 43.51% of the stock is owned by institutional investors and hedge funds.

Castlight Health opened at $3.80 on Friday, according to MarketBeat.com. The firm has a market cap of $520.80 million, a P/E ratio of -14.62 and a beta of 1.38. Castlight Health has a fifty-two week low of $3.77 and a fifty-two week high of $3.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.00 and a quick ratio of 2.00.

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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