Castlight Health, inc. (NYSE:CSLT) Issues Earnings Results, Beats Expectations By $0.02 EPS
Castlight Health, inc. (NYSE:CSLT) announced its quarterly earnings results on Wednesday. The software maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02, Briefing.com reports. Castlight Health, inc. had a negative net margin of 48.72% and a negative return on equity of 43.23%. The firm had revenue of $32.10 million during the quarter, compared to analysts’ expectations of $31.14 million. During the same period in the prior year, the company earned ($0.11) EPS. The firm’s revenue was up 36.0% on a year-over-year basis. Castlight Health, inc. updated its FY17 guidance to ($0.28)-($0.24) EPS.
Castlight Health, inc. (NYSE CSLT) traded down 7.69% during trading on Friday, reaching $4.20. 398,169 shares of the company’s stock were exchanged. The company’s market capitalization is $548.26 million. The company’s 50-day moving average is $4.22 and its 200-day moving average is $3.76. Castlight Health, inc. has a 1-year low of $3.05 and a 1-year high of $5.50.
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A number of analysts recently weighed in on the stock. Cowen and Company reaffirmed a “market perform” rating and set a $4.50 price target (up from $4.00) on shares of Castlight Health, inc. in a research report on Thursday. ValuEngine cut shares of Castlight Health, inc. from a “hold” rating to a “sell” rating in a research report on Friday, May 19th. Zacks Investment Research raised shares of Castlight Health, inc. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub raised shares of Castlight Health, inc. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Chardan Capital assumed coverage on shares of Castlight Health, inc. in a research report on Tuesday, June 6th. They set a “buy” rating and a $4.50 price target for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Castlight Health, inc. presently has a consensus rating of “Hold” and an average target price of $4.50.
In related news, insider Giovanni M. Colella sold 11,456 shares of Castlight Health, inc. stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $3.75, for a total value of $42,960.00. Following the transaction, the insider now owns 88,094 shares in the company, valued at approximately $330,352.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Priya Jain sold 7,858 shares of Castlight Health, inc. stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $3.65, for a total transaction of $28,681.70. Following the completion of the transaction, the chief accounting officer now owns 20,000 shares in the company, valued at approximately $73,000. The disclosure for this sale can be found here. Insiders sold a total of 37,051 shares of company stock worth $140,343 in the last quarter. Insiders own 37.43% of the company’s stock.
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.
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