StockNews.com initiated coverage on shares of CareCloud (NASDAQ:MTBC – Get Rating) in a research note released on Sunday. The brokerage issued a buy rating on the technology company's stock.
Several other research firms have also weighed in on MTBC. B. Riley dropped their price objective on shares of CareCloud from $11.00 to $8.00 in a report on Friday, August 5th. Benchmark lowered their price target on shares of CareCloud to $12.00 in a report on Monday, August 15th.
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CareCloud Trading Down 5.7 %
CareCloud stock opened at $4.67 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.42. The company has a market capitalization of $70.42 million, a price-to-earnings ratio of -11.12 and a beta of 1.26. CareCloud has a one year low of $2.92 and a one year high of $8.61. The company's fifty day moving average price is $3.88 and its two-hundred day moving average price is $4.11.
CareCloud (NASDAQ:MTBC – Get Rating) last released its earnings results on Thursday, August 4th. The technology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.06. The business had revenue of $37.23 million during the quarter, compared to analysts' expectations of $37.48 million. CareCloud had a net
margin of 6.00% and a return on equity of 8.90%. On average, analysts forecast that CareCloud will post -0.63 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of MTBC. Johnson Investment Counsel Inc. acquired a new position in CareCloud in the 1st quarter valued at about $258,000. Level Four Advisory Services LLC bought a new position in shares of CareCloud in the 4th quarter valued at $255,000. P.A.W. Capital Corp lifted its stake in shares of CareCloud by 3.7% in the 1st quarter. P.A.W. Capital Corp now owns 700,000 shares of the technology company's stock valued at $3,605,000 after acquiring an additional 25,000 shares during the last quarter. McDonald Partners LLC bought a new position in CareCloud during the 1st quarter worth $137,000. Finally, Dimensional Fund Advisors LP raised its position in CareCloud by 11.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 152,916 shares of the technology company's stock worth $788,000 after purchasing an additional 16,007 shares during the last quarter. 20.97% of the stock is currently owned by institutional investors and hedge funds.
CareCloud Company Profile
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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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