Zacks Investment Research upgraded shares of Castlight Health, inc. (NYSE:CSLT) from a hold rating to a buy rating in a research note issued to investors on Monday morning. Zacks Investment Research currently has $4.50 target price on the software maker’s stock.

According to Zacks, “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. “

Several other research analysts have also issued reports on CSLT. ValuEngine lowered shares of Castlight Health, inc. from a hold rating to a sell rating in a research note on Thursday, August 10th. Canaccord Genuity reiterated a buy rating and issued a $7.00 price target on shares of Castlight Health, inc. in a research note on Thursday, October 26th. Dougherty & Co reiterated a buy rating on shares of Castlight Health, inc. in a research note on Thursday, August 17th. BidaskClub lowered shares of Castlight Health, inc. from a hold rating to a sell rating in a research note on Wednesday, October 18th. Finally, Chardan Capital decreased their price target on shares of Castlight Health, inc. from $6.50 to $6.30 and set a buy rating for the company in a research note on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $5.22.

Castlight Health, inc. (CSLT) traded up $0.20 during trading hours on Monday, hitting $4.20. 260,185 shares of the stock traded hands, compared to its average volume of 361,821.

Castlight Health, inc. (NYSE:CSLT) last posted its earnings results on Wednesday, October 25th. The software maker reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. Castlight Health, inc. had a negative net margin of 45.14% and a negative return on equity of 32.57%. The firm had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $34.61 million. During the same period last year, the company posted ($0.05) EPS. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. analysts predict that Castlight Health, inc. will post -0.44 EPS for the current year.

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In other Castlight Health, inc. news, CEO John C. Doyle sold 35,184 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $3.65, for a total transaction of $128,421.60. Following the completion of the sale, the chief executive officer now directly owns 75,639 shares in the company, valued at approximately $276,082.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Robert Derek Newell acquired 30,468 shares of Castlight Health, inc. stock in a transaction on Wednesday, November 1st. The shares were purchased at an average price of $3.95 per share, with a total value of $120,348.60. Following the completion of the purchase, the president now owns 128,671 shares in the company, valued at approximately $508,250.45. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 208,287 shares of company stock valued at $795,240. 37.43% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC grew its stake in shares of Castlight Health, inc. by 0.7% in the second quarter. Citadel Advisors LLC now owns 105,170 shares of the software maker’s stock worth $437,000 after acquiring an additional 713 shares during the period. Stifel Financial Corp grew its stake in shares of Castlight Health, inc. by 4.3% in the first quarter. Stifel Financial Corp now owns 36,500 shares of the software maker’s stock worth $133,000 after acquiring an additional 1,500 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of Castlight Health, inc. by 2.1% in the first quarter. TIAA CREF Investment Management LLC now owns 108,032 shares of the software maker’s stock worth $394,000 after acquiring an additional 2,210 shares during the period. Edge Wealth Management LLC grew its stake in shares of Castlight Health, inc. by 6.5% in the second quarter. Edge Wealth Management LLC now owns 50,050 shares of the software maker’s stock worth $198,000 after acquiring an additional 3,050 shares during the period. Finally, Voya Investment Management LLC grew its stake in shares of Castlight Health, inc. by 25.4% in the second quarter. Voya Investment Management LLC now owns 26,929 shares of the software maker’s stock worth $112,000 after acquiring an additional 5,453 shares during the period. Hedge funds and other 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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Analyst Recommendations for Castlight Health, inc. (NYSE:CSLT)

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