Wall Street analysts predict that Castlight Health Inc (NYSE:CSLT) will announce $36.65 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Castlight Health’s earnings, with the lowest sales estimate coming in at $36.39 million and the highest estimate coming in at $36.80 million. Castlight Health posted sales of $37.78 million during the same quarter last year, which suggests a negative year-over-year growth rate of 3%. The company is expected to issue its next quarterly earnings results after the market closes on Tuesday, July 30th.

According to Zacks, analysts expect that Castlight Health will report full-year sales of $154.61 million for the current financial year, with estimates ranging from $153.22 million to $155.60 million. For the next financial year, analysts forecast that the company will post sales of $174.16 million, with estimates ranging from $167.19 million to $181.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Castlight Health.

Castlight Health (NYSE:CSLT) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Castlight Health had a negative return on equity of 11.47% and a negative net margin of 23.04%. The firm had revenue of $35.50 million for the quarter, compared to the consensus estimate of $35.10 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The company’s revenue was down 2.7% on a year-over-year basis.

A number of equities research analysts have recently issued reports on the company. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $4.86.

In related news, EVP Neeraj Gupta sold 8,738 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $3.61, for a total value of $31,544.18. Following the completion of the sale, the executive vice president now directly owns 275,255 shares in the company, valued at $993,670.55. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 22,538 shares of company stock valued at $79,721. Corporate insiders own 17.37% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Castlight Health by 4.6% in the first quarter. FMR LLC now owns 15,952,562 shares of the software maker’s stock valued at $59,823,000 after buying an additional 705,543 shares during the period. BlackRock Inc. boosted its stake in shares of Castlight Health by 14.5% in the fourth quarter. BlackRock Inc. now owns 6,614,210 shares of the software maker’s stock valued at $14,353,000 after buying an additional 839,880 shares during the period. Gagnon Securities LLC boosted its stake in shares of Castlight Health by 40.3% in the first quarter. Gagnon Securities LLC now owns 2,773,736 shares of the software maker’s stock valued at $10,402,000 after buying an additional 796,659 shares during the period. Gagnon Advisors LLC boosted its stake in shares of Castlight Health by 63.4% in the first quarter. Gagnon Advisors LLC now owns 1,909,825 shares of the software maker’s stock valued at $7,162,000 after buying an additional 740,769 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Castlight Health by 35.5% in the first quarter. Royce & Associates LP now owns 1,525,143 shares of the software maker’s stock valued at $5,719,000 after buying an additional 399,843 shares during the period. Institutional investors and hedge funds own 53.38% of the company’s stock.

Shares of NYSE:CSLT traded up $0.07 during trading on Wednesday, reaching $2.89. 285,370 shares of the stock were exchanged, compared to its average volume of 457,854. Castlight Health has a 12 month low of $1.86 and a 12 month high of $5.50. The company has a market cap of $405.96 million, a price-to-earnings ratio of -18.06 and a beta of 1.47. The company’s 50-day moving average is $3.03. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.87 and a current ratio of 1.87.

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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