CareCloud, Inc. (NASDAQ:MTBC) Receives Average Recommendation of “Buy” from Analysts

CareCloud, Inc. (NASDAQ:MTBCGet Rating) has earned a consensus rating of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $15.33.

A number of equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of CareCloud in a research report on Thursday, May 12th. They set a “buy” rating for the company. B. Riley reduced their price target on shares of CareCloud from $18.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, March 15th. Roth Capital reaffirmed a “buy” rating on shares of CareCloud in a research note on Monday, May 9th. Finally, TheStreet lowered shares of CareCloud from a “c-” rating to a “d+” rating in a research note on Friday, April 1st.

Shares of CareCloud stock opened at $3.81 on Wednesday. The firm has a market cap of $57.40 million, a PE ratio of -6.15 and a beta of 1.09. The firm’s 50-day simple moving average is $4.38 and its 200-day simple moving average is $5.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.29 and a current ratio of 1.31. CareCloud has a 1 year low of $3.25 and a 1 year high of $9.39.

CareCloud (NASDAQ:MTBCGet Rating) last announced its quarterly earnings data on Monday, May 9th. The technology company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. CareCloud had a net margin of 4.09% and a return on equity of 6.01%. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. On average, equities analysts predict that CareCloud will post -0.53 earnings per share for the current year.

In related news, CEO A Hadi Chaudhry sold 3,240 shares of the stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $25.58, for a total transaction of $82,879.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 34.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in shares of CareCloud by 10.2% during the 2nd quarter. Wells Fargo & Company MN now owns 21,698 shares of the technology company’s stock valued at $182,000 after buying an additional 2,011 shares during the period. State Street Corp boosted its stake in shares of CareCloud by 13.3% during the 1st quarter. State Street Corp now owns 26,463 shares of the technology company’s stock valued at $136,000 after buying an additional 3,100 shares during the period. Morgan Stanley boosted its stake in shares of CareCloud by 157.5% during the 2nd quarter. Morgan Stanley now owns 5,767 shares of the technology company’s stock valued at $49,000 after buying an additional 3,527 shares during the period. Marshall Wace LLP boosted its stake in shares of CareCloud by 7.7% during the 3rd quarter. Marshall Wace LLP now owns 52,764 shares of the technology company’s stock valued at $402,000 after buying an additional 3,790 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of CareCloud by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 73,736 shares of the technology company’s stock valued at $466,000 after buying an additional 4,092 shares during the period. 24.32% of the stock is owned by hedge funds and other institutional investors.

About CareCloud (Get Rating)

CareCloud, Inc brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows, and make better business and care decisions. More than 40,000 providers across the United States count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs.

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