In a report released today, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on Castlight Health (CSLT), with a price target of $5. The company’s shares opened today at $3.81.
Halper commented:
“We continue to believe that Castlight’s transition from a point solution company (price transparency) to a platform solution (employee wellness) has been overlooked by investors. Ford’s rollout of Complete is a good example of the company’s progress. We expect flat revenue in 2019 (vs. 2018) due to the Walmart (WMT Not Rated) loss, but improved top line growth in 2020 as Complete begins to contribute meaningfully to revenue and earnings. The company continues to add new platform relationships while stabilizing its attrition of transparency customers. Our DCF-based target price of $5 reflects 36% upside from current levels.”
According to TipRanks.com, Halper is a 5-star analyst with an average return of 17.4% and a 62.5% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Currently, the analyst consensus on Castlight Health is a Moderate Buy with an average price target of $4.50.
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The company has a one-year high of $5.95 and a one-year low of $1.86. Currently, Castlight Health has an average volume of 479.8K.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.
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Castlight Health, Inc. engages in the provision of healthcare information technology solutions. It offers health benefits platforms which enables benefit leaders to communicate and measure their programs. The company was founded by Todd Y. Park, Bryan E. Roberts, and Giovanni M. Colella in January 2008 and is headquartered in San Francisco, CA.
