Castlight Health (NYSE:CSLT) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Castlight Health (NYSE:CSLT) from a sell rating to a hold rating in a research note published on Thursday, ValuEngine reports.

A number of other analysts have also recently commented on CSLT. Zacks Investment Research cut Castlight Health from a buy rating to a hold rating in a research report on Wednesday, July 3rd. Cantor Fitzgerald cut Castlight Health from an overweight rating to a neutral rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $4.50.

Castlight Health stock traded up $0.05 during midday trading on Thursday, reaching $1.69. 1,022,296 shares of the company were exchanged, compared to its average volume of 482,314. The firm has a market capitalization of $231.77 million, a P/E ratio of -10.56 and a beta of 1.42. The company’s 50-day moving average is $2.94. Castlight Health has a 1 year low of $1.50 and a 1 year high of $4.15. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.09.

Castlight Health (NYSE:CSLT) last posted its quarterly earnings data on Tuesday, July 30th. The software maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $35.90 million for the quarter, compared to analysts’ expectations of $36.95 million. Castlight Health had a negative return on equity of 9.21% and a negative net margin of 19.68%. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) EPS. On average, sell-side analysts expect that Castlight Health will post -0.11 earnings per share for the current fiscal year.

In other Castlight Health news, EVP Neeraj Gupta sold 8,738 shares of Castlight Health stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $3.61, for a total value of $31,544.18. Following the completion of the sale, the executive vice president now owns 275,255 shares in the company, valued at approximately $993,670.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 22,538 shares of company stock valued at $74,521 in the last 90 days. 17.37% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CSLT. FMR LLC grew its holdings in Castlight Health by 18.4% in the 4th quarter. FMR LLC now owns 15,247,019 shares of the software maker’s stock valued at $33,086,000 after buying an additional 2,371,475 shares during the period. BlackRock Inc. grew its holdings in Castlight Health by 14.5% in the 4th quarter. BlackRock Inc. now owns 6,614,210 shares of the software maker’s stock valued at $14,353,000 after buying an additional 839,880 shares during the period. Gagnon Securities LLC grew its holdings in Castlight Health by 40.3% in the 1st quarter. Gagnon Securities LLC now owns 2,773,736 shares of the software maker’s stock valued at $10,402,000 after buying an additional 796,659 shares during the period. Gagnon Advisors LLC lifted its stake in shares of Castlight Health by 63.4% in the 1st quarter. Gagnon Advisors LLC now owns 1,909,825 shares of the software maker’s stock valued at $7,162,000 after purchasing an additional 740,769 shares in the last quarter. Finally, GMT Capital Corp acquired a new position in shares of Castlight Health in the 1st quarter valued at about $2,638,000. Institutional investors own 53.39% of the company’s stock.

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 implementation, user and customer support, and marketplace services.

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