Castlight Health Inc (NYSE:CSLT)’s share price was up 7.8% during trading on Thursday . The company traded as high as $2.86 and last traded at $2.78. Approximately 1,336,430 shares were traded during mid-day trading, an increase of 143% from the average daily volume of 549,052 shares. The stock had previously closed at $2.58.
A number of equities analysts recently commented on CSLT shares. ValuEngine upgraded shares of Castlight Health from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Dougherty & Co lifted their target price on shares of Castlight Health from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Chardan Capital cut shares of Castlight Health from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $6.00 to $4.80 in a research report on Tuesday, July 31st. Canaccord Genuity decreased their target price on shares of Castlight Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $5.00 target price on shares of Castlight Health in a research report on Friday, August 17th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Castlight Health presently has an average rating of “Buy” and an average target price of $4.81.
The stock has a market capitalization of $355.42 million, a P/E ratio of -10.38 and a beta of 1.09. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02.
Castlight Health (NYSE:CSLT) last announced its quarterly earnings results on Tuesday, November 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. The business had revenue of $40.04 million for the quarter, compared to analyst estimates of $38.11 million. Castlight Health had a negative net margin of 29.23% and a negative return on equity of 16.63%. The company’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. On average, analysts expect that Castlight Health Inc will post -0.27 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in CSLT. Metropolitan Life Insurance Co. NY bought a new stake in Castlight Health in the 2nd quarter worth $120,000. MetLife Investment Advisors LLC bought a new stake in Castlight Health in the 2nd quarter worth $170,000. Allianz Asset Management GmbH bought a new stake in Castlight Health in the 1st quarter worth $180,000. Edge Wealth Management LLC grew its holdings in Castlight Health by 128.5% in the 3rd quarter. Edge Wealth Management LLC now owns 105,675 shares of the software maker’s stock worth $285,000 after acquiring an additional 59,425 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Castlight Health by 30.9% in the 2nd quarter. Rhumbline Advisers now owns 69,922 shares of the software maker’s stock worth $297,000 after acquiring an additional 16,520 shares during the last quarter. 50.61% of the stock is currently owned by institutional investors and hedge funds.
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About Castlight Health (NYSE:CSLT)
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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