Castlight Health (NASDAQ:CSLT) was upgraded by Zacks from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $9.25 price target on the stock. Zacks‘s price target points to a potential upside of 12.67% from the stock’s previous close.
Zacks’ analyst wrote, “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. “
Castlight Health (NASDAQ:CSLT) traded up 4.72% during mid-day trading on Tuesday, hitting $8.21. The stock had a trading volume of 1,024,547 shares. Castlight Health has a 52 week low of $6.52 and a 52 week high of $19.45. The stock’s 50-day moving average is $7. and its 200-day moving average is $9.. The company’s market cap is $754.34 million.
Castlight Health (NASDAQ:CSLT) last released its earnings data on Wednesday, May 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.02. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $15.70 million. During the same quarter in the previous year, the company posted ($0.72) earnings per share. The company’s revenue for the quarter was up 90.5% on a year-over-year basis. Analysts expect that Castlight Health will post $-0.68 EPS for the current fiscal year.
A number of other firms have also recently commented on CSLT. Analysts at Canaccord Genuity lowered their price target on shares of Castlight Health from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Analysts at Wells Fargo & Co. initiated coverage on shares of Castlight Health in a research note on Friday, March 20th. They set a “market perform” rating on the stock. Finally, analysts at Stifel Nicolaus lowered their price target on shares of Castlight Health from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $13.25.
Castlight Health, Inc is a provider of cloud-based software, that 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.
To get a free copy of the research report on Castlight Health (CSLT), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com
