Wells Fargo slashes price target on Castlight Health Inc. [CSLT] – find out why.

Castlight Health Inc. [NYSE: CSLT] stock went on an upward path that rose over 9.45% on Wednesday, amounting to a one-week price increase of more than 24.29%. The company report on March 1, 2021 that Castlight Health Launches New Resource to Help Employers Address COVID-19 Vaccine Navigation and Vaccine Literacy.

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Castlight Health, Inc. (NYSE: CSLT), a leader in healthcare navigation, announced a new COVID-19 vaccine navigation feature embedded directly into the Castlight app. With the anticipated increase in COVID-19 vaccine availability in the coming months, the new feature provides employers with a convenient, centralized resource that allows employees to navigate COVID-19 vaccine eligibility and availability and access critical educational content that aims to improve vaccine literacy.

Vaccine Navigation is the latest example of how Castlight is helping its employer customers and their employees navigate the complex healthcare landscape during the pandemic. The Castlight Vaccine Navigation feature launched in February and was provided at no additional cost to the company’s customers.

Over the last 12 months, CSLT stock rose by 117.82%. The one-year Castlight Health Inc. stock forecast points to a potential downside of -25.71. The average equity rating for CSLT stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $352.90 million, with 154.80 million shares outstanding and 111.98 million shares in the current float. Compared to the average trading volume of 1.11M shares, CSLT stock reached a trading volume of 5031200 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Castlight Health Inc. [CSLT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CSLT shares is $1.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CSLT stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Castlight Health Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 08, 2020. While these analysts kept the previous recommendation, Canaccord Genuity dropped their target price from $4 to $1.50. The new note on the price target was released on November 20, 2019, representing the official price target for Castlight Health Inc. stock. On October 31, 2018, analysts decreased their price target for CSLT shares from 6 to 5.

The Average True Range (ATR) for Castlight Health Inc. is set at 0.22, with the Price to Sales ratio for CSLT stock in the period of the last 12 months amounting to 2.41. The Price to Book ratio for the last quarter was 2.75, with the Price to Cash per share for the same quarter was set at 0.31.

CSLT Stock Performance Analysis:

Castlight Health Inc. [CSLT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.29. With this latest performance, CSLT shares gained by 25.00% in over the last four-week period, additionally plugging by 59.42% over the last 6 months – not to mention a rise of 117.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CSLT stock in for the last two-week period is set at 67.92, with the RSI for the last a single of trading hit 72.39, and the three-weeks RSI is set at 65.69 for Castlight Health Inc. [CSLT]. The present Moving Average for the last 50 days of trading for this stock 1.66, while it was recorded at 1.90 for the last single week of trading, and 1.19 for the last 200 days.

Insight into Castlight Health Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Castlight Health Inc. [CSLT] shares currently have an operating margin of -8.51 and a Gross Margin at +64.53. Castlight Health Inc.’s Net Margin is presently recorded at -42.39.

Return on Total Capital for CSLT is now -7.51, given the latest momentum, and Return on Invested Capital for the company is -39.18. Return on Equity for this stock declined to -41.91, with Return on Assets sitting at -30.37. When it comes to the capital structure of this company, Castlight Health Inc. [CSLT] has a Total Debt to Total Equity ratio set at 11.82. Additionally, CSLT Total Debt to Total Capital is recorded at 10.57, with Total Debt to Total Assets ending up at 8.78. Long-Term Debt to Equity for the company is recorded at 6.01, with the Long-Term Debt to Total Capital now at 5.38.

Reflecting on the efficiency of the workforce at the company, Castlight Health Inc. [CSLT] managed to generate an average of -$141,325 per employee. Receivables Turnover for the company is 4.65 with a Total Asset Turnover recorded at a value of 0.72.Castlight Health Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.50.

CSLT Stock EPS

With the latest financial reports released by the company, Castlight Health Inc. posted -0.01/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 80.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CSLT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Castlight Health Inc. go to 30.00%.

Castlight Health Inc. [CSLT] Insider Position Details

There are presently around $170 million, or 78.70% of CSLT stock, in the hands of institutional investors. The top three institutional holders of CSLT stocks are: FMR LLC with ownership of 17,810,484, which is approximately 2.734% of the company’s market cap and around 1.70% of the total institutional ownership; RAGING CAPITAL MANAGEMENT, LLC, holding 9,918,093 shares of the stock with an approximate value of $19.93 million in CSLT stocks shares; and WELLCOME TRUST LTD (THE) AS TRUSTEE OF THE WELLCOME TRUST, currently with $13.2 million in CSLT stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Castlight Health Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 40 institutional holders increased their position in Castlight Health Inc. [NYSE:CSLT] by around 8,533,032 shares. Additionally, 33 investors decreased positions by around 2,597,789 shares, while 24 investors held positions by with 73,419,645 shares. The mentioned changes placed institutional holdings at 84,550,466 shares, according to the latest SEC report filing. CSLT stock had 15 new institutional investments in for a total of 2,053,962 shares, while 14 institutional investors sold positions of 1,332,825 shares during the same period.

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