$36.93 Million in Sales Expected for Castlight Health, inc. (CSLT) This Quarter

Equities analysts predict that Castlight Health, inc. (NYSE:CSLT) will post sales of $36.93 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Castlight Health, inc.’s earnings. The highest sales estimate is $38.40 million and the lowest is $36.11 million. Castlight Health, inc. posted sales of $29.90 million in the same quarter last year, which suggests a positive year-over-year growth rate of 23.5%. The firm is scheduled to announce its next earnings results on Wednesday, February 21st.

According to Zacks, analysts expect that Castlight Health, inc. will report full year sales of $36.93 million for the current year, with estimates ranging from $130.53 million to $132.00 million. For the next year, analysts anticipate that the company will post sales of $163.82 million per share, with estimates ranging from $156.40 million to $169.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Castlight Health, inc..

Castlight Health, inc. (NYSE:CSLT) last announced its quarterly earnings results on Wednesday, October 25th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate of $34.61 million. Castlight Health, inc. had a negative net margin of 45.14% and a negative return on equity of 32.57%. The business’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) EPS.

A number of analysts have recently issued reports on the stock. Dougherty & Co reaffirmed a “buy” rating on shares of Castlight Health, inc. in a report on Thursday, August 17th. Cantor Fitzgerald reiterated a “hold” rating and issued a $5.00 price objective on shares of Castlight Health, inc. in a research note on Wednesday, October 25th. BidaskClub cut shares of Castlight Health, inc. from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine upgraded shares of Castlight Health, inc. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $7.00 price objective on shares of Castlight Health, inc. in a research note on Thursday, October 26th. Three research analysts have 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 stock currently has an average rating of “Hold” and an average price target of $5.22.

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In related news, President Robert Derek Newell acquired 30,000 shares of Castlight Health, inc. stock in a transaction dated Friday, October 27th. The shares were purchased at an average price of $3.95 per share, for a total transaction of $118,500.00. Following the completion of the transaction, the president now directly owns 128,671 shares in the company, valued at approximately $508,250.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Giovanni M. Colella sold 23,800 shares of Castlight Health, inc. stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $4.05, for a total transaction of $96,390.00. Following the sale, the insider now owns 78,906 shares in the company, valued at approximately $319,569.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,287 shares of company stock worth $701,860. 37.43% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Cowen Prime Services LLC raised its position in shares of Castlight Health, inc. by 101.6% during the third quarter. Cowen Prime Services LLC now owns 163,520 shares of the software maker’s stock valued at $703,000 after buying an additional 82,420 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Castlight Health, inc. by 142.0% during the third quarter. Bank of New York Mellon Corp now owns 538,805 shares of the software maker’s stock valued at $2,316,000 after buying an additional 316,145 shares during the last quarter. Swiss National Bank raised its position in shares of Castlight Health, inc. by 173.3% during the third quarter. Swiss National Bank now owns 108,350 shares of the software maker’s stock valued at $466,000 after buying an additional 68,700 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its position in shares of Castlight Health, inc. by 80.7% during the third quarter. Jaffetilchin Investment Partners LLC now owns 102,888 shares of the software maker’s stock valued at $442,000 after buying an additional 45,935 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of Castlight Health, inc. during the second quarter valued at approximately $264,000. Hedge funds and other institutional investors own 41.30% of the company’s stock.

Shares of Castlight Health, inc. (CSLT) traded up $0.05 during midday trading on Thursday, hitting $3.80. 16,713 shares of the stock were exchanged, compared to its average volume of 351,215. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.03. Castlight Health, inc. has a 12-month low of $3.05 and a 12-month high of $5.50.

About Castlight Health, inc.

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.

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