Cantor Fitzgerald Reiterates “Hold” Rating for Castlight Health, inc. (CSLT)

Cantor Fitzgerald reiterated their hold rating on shares of Castlight Health, inc. (NYSE:CSLT) in a research report sent to investors on Wednesday, October 25th. They currently have a $5.00 price target on the software maker’s stock.

“3Q17 results. 3Q17 revenue of $34.6 million (+36 y/y) was in line with FactSet consensus expectations, but below our estimate of $35.7 million. EPS of ($0.05) were above FacfSet consensus of ($0.07) and our estimate of ($0.06). Revenue growth was primarily driven by the Jiff acquisition and the Anthem partnership. At the same time, CSLT continues to face churn headwinds from its transparency customers. The market for standalone transparency solutions has eroded. Transparency-only customers now account for 23% of ARR. Management’s goal is to reduce that to less than 15% of total ARR by 4Q18. In 3Q17, CSLT added 26 new customer logos, but lost 11 customers. More than half of new logos came from the Anthem Engage partnership. The company now has over 255 customers, including 80 Fortune 500 customers.”,” Cantor Fitzgerald’s analyst wrote.

Several other research analysts have also recently weighed in on CSLT. BidaskClub upgraded shares of Castlight Health, inc. from a hold rating to a buy rating in a research report on Wednesday, July 12th. ValuEngine upgraded shares of Castlight Health, inc. from a sell rating to a hold rating in a research report on Tuesday, August 1st. Cowen and Company restated a market perform rating and issued a $4.50 target price (up previously from $4.00) on shares of Castlight Health, inc. in a report on Thursday, August 3rd. Dougherty & Co restated a buy rating on shares of Castlight Health, inc. in a report on Thursday, August 17th. Finally, Canaccord Genuity upgraded shares of Castlight Health, inc. from a hold rating to a buy rating in a report on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $5.22.

Castlight Health, inc. (NYSE CSLT) traded up $0.20 during midday trading on Wednesday, hitting $3.95. 254,700 shares of the stock traded hands, compared to its average volume of 367,369. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.94 and a quick ratio of 1.94. Castlight Health, inc. has a 12-month low of $3.05 and a 12-month high of $5.50.

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, topping analysts’ consensus estimates of ($0.07) by $0.02. Castlight Health, inc. had a negative net margin of 45.14% and a negative return on equity of 32.57%. The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate of $34.61 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. The company’s revenue for the quarter was up 35.7% on a year-over-year basis. analysts forecast that Castlight Health, inc. will post -0.44 earnings per share for the current fiscal year.

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In other Castlight Health, inc. news, CEO John C. Doyle sold 35,184 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $3.65, for a total transaction of $128,421.60. Following the completion of the sale, the chief executive officer now directly owns 75,639 shares in the company, valued at approximately $276,082.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mangini Siobhan Nolan sold 28,639 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $3.66, for a total value of $104,818.74. Following the sale, the chief financial officer now owns 41,622 shares of the company’s stock, valued at $152,336.52. The disclosure for this sale can be found here. Insiders sold a total of 158,487 shares of company stock valued at $597,608 over the last quarter. 37.43% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC lifted its holdings in Castlight Health, inc. by 25.4% in the 2nd quarter. Voya Investment Management LLC now owns 26,929 shares of the software maker’s stock worth $112,000 after purchasing an additional 5,453 shares in the last quarter. Stifel Financial Corp lifted its holdings in Castlight Health, inc. by 4.3% in the 1st quarter. Stifel Financial Corp now owns 36,500 shares of the software maker’s stock worth $133,000 after purchasing an additional 1,500 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in Castlight Health, inc. by 49.5% in the 2nd quarter. Nationwide Fund Advisors now owns 36,418 shares of the software maker’s stock worth $151,000 after purchasing an additional 12,061 shares in the last quarter. FNY Partners Fund LP purchased a new stake in shares of Castlight Health, inc. during the 1st quarter worth approximately $164,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of Castlight Health, inc. during the 2nd quarter worth approximately $193,000. 41.30% of the stock is currently owned by institutional investors.

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.

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

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