Castlight Health Inc (CSLT) reported quarterly earnings results on Tuesday, May-10-2016. The company said it had a profit of $-0.13 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.15. The company posted revenue of $22.70 million in the period, compared to analysts expectations of $22.12 million. The company’s revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.17 EPS.
Many Wall Street Analysts have commented on Castlight Health Inc. Shares were Reiterated by Topeka Capital Markets on Feb 18, 2016 to “Buy” and Lowered the Price Target to $ 6 from a previous price target of $6.50 .Shares were Reiterated by Stifel on Feb 18, 2016 to “Buy” and Lowered the Price Target to $ 6 from a previous price target of $7 .
Castlight Health Inc opened for trading at $3.23 and hit $3.31 on the upside on Friday, eventually ending the session at $3.27, with a gain of 1.24% or 0.04 points. The heightened volatility saw the trading volume jump to 1,80,506 shares. Company has a market cap of $316 M.
In a different news, on Feb 19, 2016, John Mccracken (SVP, World Wide Sales) sold 7,016 shares at $2.77 per share price. According to the SEC, on Jan 5, 2015, Giovanni M. Colella (CEO and Co-Founder) sold 27,474 shares at $12.03 per share price.
Castlight Health Inc. is a provider of cloud-based software that enables enterprises to understand and manage health care spending as a business investment and help employees and their families make medical decisions. The Company’s Enterprise Healthcare Cloud provides information to its employees implementing technology-enabled benefit designs and integrating systems and applications. The Company deploys consumer-oriented applications that deliver employee engagement and enable employers to integrate benefit programs into one platform available to employees and their families. The Company’s Enterprise Healthcare Cloud offering transforms data into transparent and useful information. This data include external data which it obtains from sources such as health care providers insurance companies governmental agencies and quality-monitoring organizations as well as internal data generated through the usage of its applications.