Analysts Expect Castlight Health Inc (NYSE:CSLT) Will Announce Quarterly Sales of $34.89 Million

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Wall Street brokerages expect that Castlight Health Inc (NYSE:CSLT) will report sales of $34.89 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Castlight Health’s earnings, with the lowest sales estimate coming in at $34.27 million and the highest estimate coming in at $35.50 million. Castlight Health posted sales of $42.10 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 17.1%. The firm is scheduled to report its next quarterly earnings results on Thursday, February 27th.

According to Zacks, analysts expect that Castlight Health will report full year sales of $141.77 million for the current year, with estimates ranging from $141.13 million to $142.40 million. For the next year, analysts forecast that the firm will report sales of $133.95 million, with estimates ranging from $132.69 million to $135.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Castlight Health.

Castlight Health (NYSE:CSLT) last issued its earnings results on Thursday, October 24th. The software maker reported ($0.04) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The firm had revenue of $35.46 million for the quarter, compared to the consensus estimate of $35.46 million. Castlight Health had a negative return on equity of 13.00% and a negative net margin of 21.68%. The company’s quarterly revenue was down 11.4% on a year-over-year basis.

A number of brokerages have weighed in on CSLT. Canaccord Genuity reduced their target price on Castlight Health from $4.00 to $1.50 in a report on Wednesday, November 27th. Zacks Investment Research raised Castlight Health from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, TheStreet downgraded Castlight Health from a “c-” rating to a “d+” rating in a report on Monday, August 19th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Castlight Health has an average rating of “Hold” and an average target price of $3.33.

Shares of CSLT stock remained flat at $$1.29 during trading hours on Friday. The company’s stock had a trading volume of 518,634 shares, compared to its average volume of 784,774. The company’s fifty day moving average is $1.44 and its 200 day moving average is $1.98. The firm has a market capitalization of $188.56 million, a P/E ratio of -8.06 and a beta of 1.53. Castlight Health has a 52-week low of $1.21 and a 52-week high of $4.15. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.07.

In related news, CEO Maeve O’meara sold 51,482 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1.34, for a total transaction of $68,985.88. Following the sale, the chief executive officer now owns 297,638 shares of the company’s stock, valued at approximately $398,834.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Neeraj Gupta sold 21,973 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1.34, for a total value of $29,443.82. Following the sale, the executive vice president now directly owns 353,940 shares in the company, valued at approximately $474,279.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,684 shares of company stock worth $160,071. 17.37% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSLT. Zebra Capital Management LLC acquired a new stake in shares of Castlight Health during the 3rd quarter valued at $26,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Castlight Health during the 2nd quarter valued at $35,000. HighTower Advisors LLC acquired a new stake in shares of Castlight Health during the 2nd quarter valued at $37,000. Tower Research Capital LLC TRC raised its position in Castlight Health by 1,293.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 26,265 shares of the software maker’s stock worth $37,000 after purchasing an additional 24,380 shares during the last quarter. Finally, Algert Global LLC bought a new position in Castlight Health during the 2nd quarter worth $64,000. 57.31% of the stock is currently owned by institutional investors.

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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