Cantor Fitzgerald analyst Steven Halper reiterated a Buy rating on Castlight Health (NYSE: CSLT) today and set a price target of $5. The company’s shares opened today at $3.95.
Halper said:
“1Q18 results were solid. Revenue was $36.5 million vs. our estimate of $36.0 million. Gross margin was 63% vs. our estimate of 66%. The company experienced higher investments to facilitate a record of number of launches in the quarter. It completed a large number of Anthem Engage implementations. We view this as a long-term positive. The adjusted loss per share was $0.06 vs. our estimate of a loss per share of 0.05.”
According to TipRanks.com, Halper is a 5-star analyst with an average return of 16.1% and a 67.2% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Castlight Health has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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Based on Castlight Health’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $8.56 million. In comparison, last year the company had a GAAP net loss of $14.81 million.
Based on the recent corporate insider activity of 37 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.
