Castlight Health, inc. (CSLT) Downgraded to Hold at BidaskClub

Castlight Health, inc. (NYSE:CSLT) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Monday, July 24th.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Castlight Health, inc. from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Chardan Capital initiated coverage on shares of Castlight Health, inc. in a report on Tuesday, June 6th. They set a “buy” rating and a $4.50 price objective for the company. 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 reduced their price target for the company from $4.00 to $3.75 in a report on Friday, May 12th. Finally, Dougherty & Co initiated coverage on shares of Castlight Health, inc. in a report on Wednesday, May 10th. They issued a “buy” rating and a $5.50 price target for the company. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $4.57.

Castlight Health, inc. (NYSE:CSLT) opened at 3.85 on Monday. The stock’s market cap is $506.99 million. The company’s 50 day moving average is $4.22 and its 200 day moving average is $3.81. 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 data on Wednesday, August 2nd. The software maker reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the business posted ($0.11) EPS. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. On average, analysts anticipate that Castlight Health, inc. will post ($0.25) EPS for the current fiscal year.

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In other Castlight Health, inc. news, insider Giovanni M. Colella sold 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $4.06, for a total transaction of $93,380.00. Following the sale, the insider now owns 78,906 shares of the company’s stock, valued at approximately $320,358.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mangini Siobhan Nolan sold 28,639 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $3.66, for a total transaction of $104,818.74. Following the sale, the chief financial officer now directly owns 41,622 shares in the company, valued at approximately $152,336.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,287 shares of company stock valued at $795,240. Company insiders own 37.43% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CSLT. Oxford Asset Management bought a new stake in Castlight Health, inc. during the first quarter valued at $102,000. Voya Investment Management LLC increased its stake in Castlight Health, inc. by 25.4% in the second quarter. Voya Investment Management LLC now owns 26,929 shares of the software maker’s stock valued at $112,000 after buying an additional 5,453 shares in the last quarter. Stifel Financial Corp increased its stake in 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. Nationwide Fund Advisors increased its stake in Castlight Health, inc. by 49.5% in the second quarter. Nationwide Fund Advisors now owns 36,418 shares of the software maker’s stock valued at $151,000 after buying an additional 12,061 shares in the last quarter. Finally, FNY Partners Fund LP bought a new stake in Castlight Health, inc. during the first quarter valued at $164,000. 40.17% of the stock is currently owned by institutional investors.

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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