Brokerages Expect Castlight Health Inc (CSLT) Will Announce Quarterly Sales of $36.80 Million

Equities research analysts expect Castlight Health Inc (NYSE:CSLT) to announce sales of $36.80 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Castlight Health’s earnings. The highest sales estimate is $37.20 million and the lowest is $36.55 million. Castlight Health posted sales of $32.10 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.6%. The business is expected to report its next quarterly earnings report on Wednesday, August 1st.

On average, analysts expect that Castlight Health will report full-year sales of $153.54 million for the current fiscal year, with estimates ranging from $152.53 million to $153.91 million. For the next fiscal year, analysts anticipate that the company will post sales of $180.02 million per share, with estimates ranging from $175.17 million to $182.20 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Castlight Health.

Castlight Health (NYSE:CSLT) last announced its quarterly earnings data on Thursday, May 10th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. Castlight Health had a negative return on equity of 25.09% and a negative net margin of 39.39%. The firm had revenue of $36.48 million for the quarter, compared to analysts’ expectations of $36.02 million.

Several equities analysts have recently commented on CSLT shares. Zacks Investment Research lowered Castlight Health from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Chardan Capital upped their target price on Castlight Health from $5.75 to $6.00 and gave the company a “buy” rating in a report on Friday, May 11th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $5.00 target price on shares of Castlight Health in a report on Wednesday, April 25th. William Blair started coverage on Castlight Health in a report on Wednesday, June 20th. They set an “outperform” rating for the company. Finally, ValuEngine raised Castlight Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $5.25.

In related news, CEO John C. Doyle sold 21,160 shares of the stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $3.79, for a total value of $80,196.40. Following the completion of the transaction, the chief executive officer now directly owns 165,672 shares of the company’s stock, valued at approximately $627,896.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mangini Siobhan Nolan sold 14,430 shares of the stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $3.80, for a total value of $54,834.00. Following the completion of the transaction, the chief financial officer now directly owns 121,413 shares of the company’s stock, valued at $461,369.40. The disclosure for this sale can be found here. Insiders have sold 41,140 shares of company stock valued at $158,820 over the last ninety days. Corporate insiders own 22.58% of the company’s stock.

A number of hedge funds have recently modified their holdings of CSLT. MetLife Investment Advisors LLC bought a new position in Castlight Health in the 4th quarter worth approximately $126,000. Allianz Asset Management GmbH bought a new position in Castlight Health in the 1st quarter worth approximately $180,000. Swiss National Bank grew its holdings in Castlight Health by 13.1% in the 1st quarter. Swiss National Bank now owns 122,550 shares of the software maker’s stock worth $447,000 after buying an additional 14,200 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Castlight Health by 143.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 136,143 shares of the software maker’s stock worth $497,000 after buying an additional 80,270 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Castlight Health by 149.1% in the 4th quarter. Deutsche Bank AG now owns 142,486 shares of the software maker’s stock worth $533,000 after buying an additional 85,297 shares in the last quarter. 43.64% of the stock is owned by institutional investors and hedge funds.

Shares of Castlight Health traded up $0.40, hitting $4.30, during trading on Thursday, MarketBeat.com reports. 4,400,800 shares of the company traded hands, compared to its average volume of 416,941. The firm has a market capitalization of $578.26 million, a PE ratio of -16.54 and a beta of 1.37. Castlight Health has a one year low of $3.15 and a one year high of $4.75. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02.

Castlight Health Company Profile

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 communication and testing, implementation, and user customer support services.

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