$36.66 Million in Sales Expected for Castlight Health Inc (CSLT) This Quarter
Wall Street analysts expect that Castlight Health Inc (NYSE:CSLT) will announce $36.66 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Castlight Health’s earnings, with estimates ranging from $36.05 million to $37.26 million. Castlight Health posted sales of $27.75 million during the same quarter last year, which suggests a positive year-over-year growth rate of 32.1%. The firm is expected to report its next quarterly earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Castlight Health will report full year sales of $36.66 million for the current fiscal year. For the next fiscal year, analysts expect that the business will report sales of $188.64 million per share, with estimates ranging from $182.44 million to $199.68 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Castlight Health.
Castlight Health (NYSE:CSLT) last announced its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $37.00 million for the quarter, compared to the consensus estimate of $36.36 million. Castlight Health had a negative return on equity of 29.80% and a negative net margin of 42.28%. The business’s revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS.
In other Castlight Health news, CEO John C. Doyle sold 10,644 shares of Castlight Health stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $3.63, for a total transaction of $38,637.72. Following the sale, the chief executive officer now owns 157,422 shares of the company’s stock, valued at approximately $571,441.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mangini Siobhan Nolan sold 18,201 shares of Castlight Health stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $3.63, for a total value of $66,069.63. Following the sale, the chief financial officer now directly owns 120,788 shares in the company, valued at approximately $438,460.44. The disclosure for this sale can be found here. Insiders have sold a total of 33,184 shares of company stock worth $120,762 in the last ninety days. 37.43% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Castlight Health by 36.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,636,948 shares of the software maker’s stock valued at $15,094,000 after acquiring an additional 963,188 shares in the last quarter. BlackRock Inc. raised its stake in Castlight Health by 1.3% during the 4th quarter. BlackRock Inc. now owns 3,575,033 shares of the software maker’s stock valued at $13,406,000 after acquiring an additional 44,923 shares in the last quarter. Gagnon Securities LLC raised its stake in Castlight Health by 3.3% during the 3rd quarter. Gagnon Securities LLC now owns 1,484,726 shares of the software maker’s stock valued at $6,384,000 after acquiring an additional 47,398 shares in the last quarter. Cowen Prime Services LLC increased its position in shares of Castlight Health by 727.5% during the 4th quarter. Cowen Prime Services LLC now owns 1,353,106 shares of the software maker’s stock valued at $5,074,000 after purchasing an additional 1,189,586 shares during the period. Finally, State Street Corp increased its position in shares of Castlight Health by 48.1% during the 2nd quarter. State Street Corp now owns 973,648 shares of the software maker’s stock valued at $4,037,000 after purchasing an additional 316,319 shares during the period. 43.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Castlight Health (NYSE CSLT) traded up $0.20 during midday trading on Wednesday, hitting $3.70. The company had a trading volume of 303,986 shares, compared to its average volume of 394,773. The company has a market cap of $494.83, a P/E ratio of -8.22 and a beta of 1.57. Castlight Health has a 1-year low of $3.10 and a 1-year high of $4.75. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.03.
Castlight Health 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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