Cantor Fitzgerald analyst Steven Halper reiterated a Buy rating on Castlight Health (CSLT) yesterday and set a price target of $5. The company’s shares closed yesterday at $3.19.
Halper said:
“. We reiterate our Overweight rating and maintain our $5 price target on CSLT shares. After the close on Thursday, February 28, CSLT reported 4Q18 results, with revenue above our estimates and EPS in line with our estimate. The company generated $7.5 million in operating cash flow in the quarter, which we view as impressive. 2019 guidance was mixed, with the revenue outlook below our estimates. However, the company’s commentary regarding the on-going launch of Castlight Complete suggests improved performance in 2H19. After officially launching the product in 2018, we believe bookings are poised to improve this year and that revenue growth will accelerate in 2019.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 18.5% and a 63.8% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Castlight Health with a $5 average price target.
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Based on Castlight Health’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.27 million. In comparison, last year the company had a GAAP net loss of $8.56 million.
Based on the recent corporate insider activity of 47 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.
