Castlight Health Inc (CSLT) Receives $5.56 Average Target Price from Brokerages

Castlight Health Inc (NYSE:CSLT) has earned a consensus rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $5.16.

Several brokerages have weighed in on CSLT. Dougherty & Co lowered their price objective on Castlight Health from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday. William Blair reiterated a “buy” rating on shares of Castlight Health in a research report on Thursday, October 18th. Cantor Fitzgerald reiterated a “buy” rating and issued a $5.00 price objective on shares of Castlight Health in a research report on Friday, August 17th. Canaccord Genuity lowered their price objective on Castlight Health from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, July 31st. Finally, Chardan Capital downgraded Castlight Health from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $6.00 to $4.80 in a research report on Tuesday, July 31st.

Shares of CSLT stock opened at $2.41 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.02. Castlight Health has a fifty-two week low of $2.20 and a fifty-two week high of $5.95. The company has a market capitalization of $326.49 million, a price-to-earnings ratio of -9.27 and a beta of 1.14.

Castlight Health (NYSE:CSLT) last announced its quarterly earnings data on Monday, July 30th. The software maker reported ($0.09) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). Castlight Health had a negative return on equity of 22.89% and a negative net margin of 38.02%. The firm had revenue of $37.70 million during the quarter, compared to the consensus estimate of $36.85 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. On average, equities analysts predict that Castlight Health will post -0.29 EPS for the current year.

Several institutional investors have recently made changes to their positions in CSLT. Northern Trust Corp raised its holdings in shares of Castlight Health by 3.2% during the first quarter. Northern Trust Corp now owns 734,949 shares of the software maker’s stock valued at $2,683,000 after acquiring an additional 23,028 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Castlight Health by 143.7% during the first quarter. Dimensional Fund Advisors LP now owns 136,143 shares of the software maker’s stock valued at $497,000 after acquiring an additional 80,270 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of Castlight Health during the first quarter valued at approximately $180,000. Penbrook Management LLC bought a new position in shares of Castlight Health during the second quarter valued at approximately $1,120,000. Finally, Rice Hall James & Associates LLC bought a new position in shares of Castlight Health during the second quarter valued at approximately $1,545,000. Institutional investors own 50.05% of the company’s stock.

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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Analyst Recommendations for Castlight Health (NYSE:CSLT)

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