Castlight Health (NYSE:CSLT) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Castlight Health (NYSE:CSLT) posted its earnings results on Tuesday. The software maker reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01), reports. Castlight Health had a negative return on equity of 11.47% and a negative net margin of 23.04%. The company had revenue of $35.90 million for the quarter, compared to the consensus estimate of $36.95 million. During the same quarter last year, the business earned ($0.10) EPS. Castlight Health’s quarterly revenue was down 5.0% compared to the same quarter last year. Castlight Health updated its FY 2019 guidance to $-0.09–0.06 EPS.

CSLT traded down $1.40 during trading on Wednesday, hitting $1.61. The company’s stock had a trading volume of 3,624,741 shares, compared to its average volume of 485,561. The company’s 50 day moving average price is $3.02. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.09. Castlight Health has a 12 month low of $1.50 and a 12 month high of $4.15. The company has a market capitalization of $416.04 million, a PE ratio of -10.06 and a beta of 1.47.

Several equities analysts have issued reports on CSLT shares. Cantor Fitzgerald downgraded Castlight Health from an “overweight” rating to a “neutral” rating in a research report on Tuesday. Zacks Investment Research downgraded Castlight Health from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, ValuEngine downgraded Castlight Health from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $4.86.

In other news, EVP Neeraj Gupta sold 8,738 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $3.61, for a total transaction of $31,544.18. Following the completion of the sale, the executive vice president now owns 275,255 shares in the company, valued at $993,670.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 20,038 shares of company stock valued at $70,346. Corporate insiders own 17.37% of the company’s stock.

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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Earnings History for Castlight Health (NYSE:CSLT)

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