CareCloud (NASDAQ:CCLD) Cut to “Neutral” at Roth Mkm

CareCloud (NASDAQ:CCLD) was downgraded by investment analysts at Roth Mkm from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. They presently have a $3.50 target price on the stock, down from their prior target price of $5.00. Roth Mkm’s price target points to a potential upside of 10.41% from the company’s current price.

Separately, Benchmark boosted their price objective on CareCloud from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, August 27th.

CareCloud Trading Up 21.5 %

Shares of CCLD stock opened at $3.17 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.01 and a current ratio of 1.03. CareCloud has a 1 year low of $0.68 and a 1 year high of $3.88. The stock has a fifty day moving average of $2.54 and a two-hundred day moving average of $2.35. The firm has a market capitalization of $51.39 million, a PE ratio of -0.89 and a beta of 1.37.

CareCloud (NASDAQ:CCLD) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. CareCloud had a negative return on equity of 82.03% and a negative net margin of 40.28%. The company had revenue of $28.09 million during the quarter, compared to analyst estimates of $27.89 million. As a group, research analysts expect that CareCloud will post 0.58 EPS for the current year.

Institutional Trading of CareCloud

A hedge fund recently raised its stake in CareCloud stock. Heron Bay Capital Management lifted its stake in shares of CareCloud, Inc. (NASDAQ:CCLD) by 126.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,576 shares of the company’s stock after purchasing an additional 19,329 shares during the period. Heron Bay Capital Management owned approximately 0.21% of CareCloud worth $66,000 at the end of the most recent quarter. 10.16% of the stock is currently owned by institutional investors.

About CareCloud

CareCloud, Inc, a healthcare information technology (IT) company, provides a suite of cloud-based solutions and related business services to healthcare providers and hospitals primarily in the United States. It operates in two segments, Healthcare IT and Medical Practice Management. The company's portfolio of proprietary software and business services includes technology-enabled business solutions; cloud-based software; digital health services; healthcare IT professional services and staffing; and medical practice management services.