Tag Archives: cslt

Castlight Gets Buy Rating On ‘Decisioning’ Groundwork

Castlight Health (CSLT), nearly four weeks since its initial public offering, got a slew of coverage initiations Tuesday from investment banks that were among its IPO underwriters, with three buy ratings and two holds. The company is “in a position to become one of the truly transformative players in a HC-IT (health care information technology) revolution,” wrote Canaccord Genuity analyst Richard Davis, who initiated coverage with a buy rating and

Health Care IT Joining The Medical IPO Boom

It’s been a big year for IPOs, but one of its wildest days was March 14, when Castlight Health soared 149% on its first day of trading. The stock hit a market cap of more than $4 billion, for a company with 2013 revenue of just $13 million. Though the stock’s come closer to earth since then, Castlight (CSLT) continued the comeback for health care IT IPOs. Drug IPOs have gone gangbusters since early last year, but HCITs didn’t get rolling until the

Castlight Health IPO Scores As Health Cost-Cut Play

Cloud-based enterprise software firm Castlight Health vaulted 149% Friday after pricing its IPO above its expected range late Thursday, as investors bet on a nascent information technology company that promises to help people navigate the increasingly complex health care market. Castlight (CSLT) priced its 11.1 million shares at 16, above its expected range of 13 to 15, which it had just raised on Tuesday from a 9-to-11 range. Such sequential