Castlight Health Inc (NYSE:CSLT) Expected to Post Earnings of -$0.01 Per Share

Analysts expect that Castlight Health Inc (NYSE:CSLT) will post ($0.01) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Castlight Health’s earnings, with the lowest EPS estimate coming in at ($0.02) and the highest estimate coming in at $0.00. Castlight Health posted earnings of ($0.05) per share during the same quarter last year, which would indicate a positive year over year growth rate of 80%. The company is scheduled to announce its next quarterly earnings results on Monday, July 29th.

According to Zacks, analysts expect that Castlight Health will report full year earnings of $0.01 per share for the current year, with EPS estimates ranging from ($0.01) to $0.03. For the next year, analysts anticipate that the company will post earnings of $0.06 per share, with EPS estimates ranging from $0.04 to $0.09. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Castlight Health.

Castlight Health (NYSE:CSLT) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $35.50 million for the quarter, compared to the consensus estimate of $35.10 million. Castlight Health had a negative return on equity of 11.47% and a negative net margin of 23.04%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) earnings per share.

Separately, Zacks Investment Research raised Castlight Health from a “hold” rating to a “strong-buy” rating and set a $4.50 price objective for the company in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.06.

In other news, EVP Neeraj Gupta sold 8,738 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $3.61, for a total value of $31,544.18. Following the completion of the transaction, the executive vice president now directly owns 275,255 shares of the company’s stock, valued at $993,670.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 22,538 shares of company stock valued at $81,021. 17.37% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Castlight Health by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 424,783 shares of the software maker’s stock valued at $1,593,000 after acquiring an additional 4,937 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Castlight Health by 16.7% in the first quarter. Raymond James & Associates now owns 50,728 shares of the software maker’s stock valued at $190,000 after acquiring an additional 7,243 shares in the last quarter. Amalgamated Bank bought a new position in shares of Castlight Health in the fourth quarter valued at approximately $25,000. Northern Trust Corp grew its holdings in shares of Castlight Health by 1.3% in the first quarter. Northern Trust Corp now owns 953,594 shares of the software maker’s stock valued at $3,577,000 after acquiring an additional 12,257 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Castlight Health by 4.3% in the fourth quarter. Bank of New York Mellon Corp now owns 373,265 shares of the software maker’s stock valued at $809,000 after acquiring an additional 15,547 shares in the last quarter. 53.38% of the stock is owned by institutional investors.

Shares of CSLT opened at $2.99 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.87 and a quick ratio of 1.87. Castlight Health has a 52 week low of $1.86 and a 52 week high of $5.95.

About Castlight Health

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 implementation, user and customer support, and marketplace services.

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