StockNews.com assumed coverage on shares of CareCloud (NASDAQ:MTBC – Get Rating) in a research report released on Tuesday morning. The brokerage issued a buy rating on the technology company's stock.
A number of other research analysts have also recently issued reports on MTBC. Benchmark cut their target price on shares of CareCloud to $12.00 in a research note on Monday, August 15th. B. Riley cut their target price on shares of CareCloud from $11.00 to $8.00 in a research note on Friday, August 5th.
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CareCloud Stock Down 2.6 %
NASDAQ MTBC opened at $4.20 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.42 and a debt-to-equity ratio of 0.07. The stock's 50 day moving average is $4.07 and its two-hundred day moving average is $4.07. The company has a market capitalization of $63.34 million, a price-to-earnings ratio of -10.00 and a beta of 1.26. CareCloud has a 1-year low of $2.92 and a 1-year high of $8.61.
CareCloud (NASDAQ:MTBC – Get Rating) last posted its earnings results on Thursday, August 4th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. CareCloud had a net
margin of 6.00% and a return on equity of 8.90%. The company had revenue of $37.23 million during the quarter, compared to analysts' expectations of $37.48 million. Equities 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 bought and sold shares of MTBC. JPMorgan Chase & Co. raised its position in CareCloud by 73.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,372 shares of the technology company's stock worth $36,000 after purchasing an additional 4,407 shares during the last quarter. PDT Partners LLC bought a new position in CareCloud in the 2nd quarter worth approximately $43,000. Virtu Financial LLC acquired a new stake in CareCloud during the 1st quarter worth $56,000. McDonald Partners LLC grew its holdings in CareCloud by 13.9% during the 2nd quarter. McDonald Partners LLC now owns 30,226 shares of the technology company's stock worth $104,000 after acquiring an additional 3,700 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in CareCloud during the 2nd quarter worth $122,000. Institutional investors own 20.97% of the company's stock.
About CareCloud
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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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