Canaccord Genuity Believes Castlight Health (NYSE: CSLT) Won’t Stop Here

Canaccord Genuity analyst Richard Close maintained a Buy rating on Castlight Health (NYSE: CSLT) today and set a price target of $7. The company’s shares opened today at $4.50, close to its 52-week high of $4.75.

According to TipRanks.com, Close is a 5-star analyst with an average return of 14.8% and a 62.1% success rate. Close covers the Services sector, focusing on stocks such as Envision Healthcare, Hms Holdings Corp, and Evolent Health.

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 March 31, the company reported a quarterly GAAP net loss of $14.44 million. In comparison, last year the company had a GAAP net loss of $13.72 million.

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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.

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