The Castlight Health, inc. (CSLT) Receives Hold Rating from Cantor Fitzgerald

The Castlight Health, inc. (CSLT) Receives Hold Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their hold rating on shares of Castlight Health, inc. (NYSE:CSLT) in a report released on Wednesday morning. They currently have a $5.00 target price on the software maker’s stock.

“3Q17 results. 3Q17 revenue of $34.6 million (+36 y/y) was in line with FactSet consensus expectations, but below our estimate of $35.7 million. EPS of ($0.05) were above FacfSet consensus of ($0.07) and our estimate of ($0.06). Revenue growth was primarily driven by the Jiff acquisition and the Anthem partnership. At the same time, CSLT continues to face churn headwinds from its transparency customers. The market for standalone transparency solutions has eroded. Transparency-only customers now account for 23% of ARR. Management’s goal is to reduce that to less than 15% of total ARR by 4Q18. In 3Q17, CSLT added 26 new customer logos, but lost 11 customers. More than half of new logos came from the Anthem Engage partnership. The company now has over 255 customers, including 80 Fortune 500 customers.”,” Cantor Fitzgerald’s analyst commented.

Other equities research analysts also recently issued research reports about the company. Dougherty & Co reaffirmed a buy rating on shares of Castlight Health, inc. in a report on Thursday, August 17th. BidaskClub raised Castlight Health, inc. from a hold rating to a buy rating in a report on Wednesday, July 12th. ValuEngine raised Castlight Health, inc. from a sell rating to a hold rating in a report on Tuesday, August 1st. Cowen and Company reaffirmed a market perform rating and issued a $4.50 target price (up previously from $4.00) on shares of Castlight Health, inc. in a report on Thursday, August 3rd. Finally, Canaccord Genuity raised Castlight Health, inc. from a hold rating to a buy rating in a report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $5.01.

Shares of Castlight Health, inc. (NYSE:CSLT) traded down 3.53% during trading on Wednesday, reaching $4.10. The company’s stock had a trading volume of 551,544 shares. The company’s market cap is $539.92 million. The firm’s 50-day moving average is $4.23 and its 200 day moving average is $4.05. Castlight Health, inc. has a 52-week low of $3.05 and a 52-week high of $5.50.

Castlight Health, inc. (NYSE:CSLT) last issued its earnings results on Wednesday, October 25th. The software maker reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.02. The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate of $34.61 million. Castlight Health, inc. had a negative return on equity of 36.30% and a negative net margin of 42.54%. The company’s revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) EPS. On average, equities research analysts predict that Castlight Health, inc. will post ($0.25) EPS for the current fiscal year.

In other news, insider Giovanni M. Colella sold 23,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $4.06, for a total value of $93,380.00. Following the completion of the transaction, the insider now directly owns 78,906 shares in the company, valued at approximately $320,358.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mangini Siobhan Nolan sold 28,414 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $3.66, for a total value of $103,995.24. Following the completion of the transaction, the chief financial officer now owns 41,622 shares of the company’s stock, valued at $152,336.52. The disclosure for this sale can be found here. Insiders sold a total of 208,287 shares of company stock valued at $795,240 over the last quarter. 24.38% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wilbanks Smith & Thomas Asset Management LLC bought a new position in shares of Castlight Health, inc. in the 2nd quarter valued at $264,000. California State Teachers Retirement System lifted its stake in shares of Castlight Health, inc. by 39.7% in the 2nd quarter. California State Teachers Retirement System now owns 113,399 shares of the software maker’s stock valued at $471,000 after acquiring an additional 32,200 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Castlight Health, inc. by 59.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,233 shares of the software maker’s stock valued at $233,000 after acquiring an additional 20,983 shares during the last quarter. State Street Corp lifted its stake in shares of Castlight Health, inc. by 48.1% in the 2nd quarter. State Street Corp now owns 973,648 shares of the software maker’s stock valued at $4,037,000 after acquiring an additional 316,319 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its stake in shares of Castlight Health, inc. by 2.8% in the 2nd quarter. Maverick Capital Ltd. now owns 1,221,809 shares of the software maker’s stock valued at $5,071,000 after acquiring an additional 33,735 shares during the last quarter. Institutional investors own 41.29% of the company’s stock.

About Castlight Health, inc.

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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