Zacks Investment Research upgraded shares of Castlight Health (NYSE:CSLT) from a hold rating to a strong-buy rating in a report released on Friday. Zacks Investment Research currently has $3.25 price target on the software maker’s stock.

According to Zacks, “Castlight Health, Inc. operates as a provider of cloud-based software. Its enables enterprises to gain control over their rapidly escalating health care costs. The Company’s Enterprise Healthcare Cloud allows its customers to conquer the complexity of the existing health care system by providing personalized, actionable information to their employees, implementing technology-enabled benefit designs and integrating disparate systems and applications. Castlight Health, Inc. is headquartered in San Francisco, California. “

A number of other research firms also recently weighed in on CSLT. Dougherty & Co increased their target price on Castlight Health from $6.00 to $7.00 and gave the company a buy rating in a report on Monday, July 23rd. ValuEngine raised Castlight Health from a hold rating to a buy rating in a report on Friday, July 20th. Chardan Capital downgraded Castlight Health from a buy rating to a neutral rating and lowered their target price for the company from $6.00 to $4.80 in a report on Tuesday, July 31st. Canaccord Genuity lowered their target price on Castlight Health from $7.00 to $6.00 and set a buy rating on the stock in a report on Tuesday, July 31st. Finally, Cantor Fitzgerald reissued a buy rating and issued a $5.00 target price on shares of Castlight Health in a 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’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $4.81.

Shares of Castlight Health stock traded down $0.08 during trading on Friday, hitting $2.70. 294,694 shares of the company’s stock traded hands, compared to its average volume of 360,370. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.85 and a quick ratio of 1.85. Castlight Health has a 1 year low of $2.20 and a 1 year high of $5.95. The stock has a market capitalization of $355.42 million, a PE ratio of -10.38 and a beta of 1.09.

Castlight Health (NYSE:CSLT) last released its quarterly earnings data on Tuesday, November 6th. The software maker reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.06. Castlight Health had a negative return on equity of 16.63% and a negative net margin of 29.23%. The company had revenue of $40.04 million for the quarter, compared to analysts’ expectations of $38.11 million. During the same period last year, the firm posted ($0.05) earnings per share. Castlight Health’s revenue was up 16.1% compared to the same quarter last year. As a group, sell-side analysts expect that Castlight Health will post -0.27 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY bought a new position in shares of Castlight Health in the second quarter worth about $120,000. MetLife Investment Advisors LLC bought a new position in shares of Castlight Health in the second quarter worth about $170,000. Allianz Asset Management GmbH bought a new position in shares of Castlight Health in the first quarter worth about $180,000. Edge Wealth Management LLC raised its stake in shares of Castlight Health by 128.5% in the third quarter. Edge Wealth Management LLC now owns 105,675 shares of the software maker’s stock worth $285,000 after buying an additional 59,425 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Castlight Health by 30.9% in the second quarter. Rhumbline Advisers now owns 69,922 shares of the software maker’s stock worth $297,000 after buying an additional 16,520 shares during the period. 50.61% of the stock is currently owned by institutional investors.

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 communication and testing, implementation, and user customer support services.

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