Castlight Health, inc. (NYSE:CSLT) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of Castlight Health, inc. (NYSE:CSLT) from a hold rating to a sell rating in a research note issued to investors on Sunday, July 30th.

A number of other equities research analysts have also issued reports on the stock. Dougherty & Co initiated coverage on shares of Castlight Health, inc. in a report on Wednesday, May 10th. They set a buy rating and a $5.50 target price for the company. Zacks Investment Research lowered shares of Castlight Health, inc. from a hold rating to a sell rating in a report on Thursday, April 27th. ValuEngine lowered shares of Castlight Health, inc. from a hold rating to a sell rating in a report on Friday, May 19th. Morgan Stanley lowered shares of Castlight Health, inc. from an equal weight rating to an underweight rating and dropped their price objective for the company from $4.00 to $3.75 in a report on Friday, May 12th. Finally, Chardan Capital began coverage on shares of Castlight Health, inc. in a report on Tuesday, June 6th. They issued a buy rating and a $4.50 price objective for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $4.57.

Castlight Health, inc. (CSLT) traded up 2.60% during trading on Friday, reaching $3.95. 309,826 shares of the company traded hands. Castlight Health, inc. has a 52 week low of $3.05 and a 52 week high of $5.50. The firm has a 50-day moving average price of $4.27 and a 200-day moving average price of $3.79. The company’s market capitalization is $520.16 million.

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

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In other Castlight Health, inc. news, insider Giovanni M. Colella sold 11,456 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $3.75, for a total value of $42,960.00. Following the transaction, the insider now owns 88,094 shares of the company’s stock, valued at $330,352.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Giovanni M. Colella sold 23,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $4.06, for a total transaction of $93,380.00. Following the completion of the transaction, the insider now directly owns 78,906 shares in the company, valued at approximately $320,358.36. The disclosure for this sale can be found here. Insiders sold 60,051 shares of company stock worth $233,723 in the last ninety days. 37.43% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of CSLT. Citadel Advisors LLC boosted its stake in shares of Castlight Health, inc. by 0.7% in the second quarter. Citadel Advisors LLC now owns 105,170 shares of the software maker’s stock valued at $437,000 after buying an additional 713 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Castlight Health, inc. by 4.3% in the first quarter. Stifel Financial Corp now owns 36,500 shares of the software maker’s stock valued at $133,000 after buying an additional 1,500 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Castlight Health, inc. by 2.1% in the first quarter. TIAA CREF Investment Management LLC now owns 108,032 shares of the software maker’s stock valued at $394,000 after buying an additional 2,210 shares in the last quarter. Edge Wealth Management LLC boosted its stake in shares of Castlight Health, inc. by 6.5% in the second quarter. Edge Wealth Management LLC now owns 50,050 shares of the software maker’s stock valued at $198,000 after buying an additional 3,050 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Castlight Health, inc. by 8.1% in the fourth quarter. Teachers Advisors LLC now owns 62,781 shares of the software maker’s stock valued at $311,000 after buying an additional 4,717 shares in the last quarter. 39.10% of the stock is currently owned by institutional investors and hedge funds.

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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