Castlight Health Inc (NYSE:CSLT) Expected to Post Quarterly Sales of $35.22 Million

Equities analysts expect Castlight Health Inc (NYSE:CSLT) to post sales of $35.22 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Castlight Health’s earnings, with the lowest sales estimate coming in at $35.00 million and the highest estimate coming in at $35.43 million. Castlight Health reported sales of $40.04 million during the same quarter last year, which would suggest a negative year over year growth rate of 12%. The firm is scheduled to report its next earnings report after the market closes on Thursday, October 24th.

On average, analysts expect that Castlight Health will report full year sales of $141.98 million for the current year, with estimates ranging from $141.60 million to $142.36 million. For the next year, analysts expect that the company will post sales of $142.85 million, with estimates ranging from $141.59 million to $144.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Castlight Health.

Castlight Health (NYSE:CSLT) last posted its quarterly earnings results on Tuesday, July 30th. The software maker reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). The company had revenue of $35.90 million during the quarter, compared to the consensus estimate of $36.95 million. Castlight Health had a negative net margin of 19.68% and a negative return on equity of 9.28%. Castlight Health’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.10) EPS.

Several research analysts have issued reports on the company. ValuEngine raised Castlight Health from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. TheStreet cut Castlight Health from a “c-” rating to a “d+” rating in a report on Monday, August 19th. Zacks Investment Research raised shares of Castlight Health from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Cantor Fitzgerald downgraded shares of Castlight Health from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $4.50.

In other Castlight Health news, EVP Maeve O’meara sold 28,171 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $1.41, for a total transaction of $39,721.11. Following the sale, the executive vice president now directly owns 322,775 shares of the company’s stock, valued at approximately $455,112.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mangini Siobhan Nolan sold 21,617 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $1.41, for a total transaction of $30,479.97. Following the sale, the chief financial officer now directly owns 281,610 shares in the company, valued at $397,070.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,858 shares of company stock worth $86,311. Company insiders own 17.37% of the company’s stock.

Large investors have recently made changes to their positions in the business. FMR LLC increased its stake in shares of Castlight Health by 4.6% in the first quarter. FMR LLC now owns 15,952,562 shares of the software maker’s stock worth $59,823,000 after acquiring an additional 705,543 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Castlight Health by 15.2% in the second quarter. Vanguard Group Inc. now owns 7,878,814 shares of the software maker’s stock worth $25,449,000 after acquiring an additional 1,038,771 shares during the last quarter. BlackRock Inc. increased its stake in shares of Castlight Health by 18.2% in the second quarter. BlackRock Inc. now owns 7,807,963 shares of the software maker’s stock worth $25,220,000 after acquiring an additional 1,202,805 shares during the last quarter. Maverick Capital Ltd. increased its stake in shares of Castlight Health by 2.5% in the second quarter. Maverick Capital Ltd. now owns 1,815,514 shares of the software maker’s stock worth $5,864,000 after acquiring an additional 44,164 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Castlight Health by 32.6% in the second quarter. Renaissance Technologies LLC now owns 1,710,200 shares of the software maker’s stock worth $5,524,000 after acquiring an additional 420,000 shares during the last quarter. 55.93% of the stock is currently owned by institutional investors.

NYSE CSLT opened at $1.50 on Wednesday. The stock has a market capitalization of $212.07 million, a P/E ratio of -9.38 and a beta of 1.54. Castlight Health has a 1 year low of $1.21 and a 1 year high of $4.15. The business’s fifty day moving average is $1.44 and its two-hundred day moving average is $2.55. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.88 and a current ratio of 1.88.

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 implementation, user and customer support, and marketplace services.

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