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

CareCloud (NASDAQ:CCLD) was downgraded by research analysts at Roth Mkm from a “buy” rating to a “neutral” rating in a research note issued to 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 objective would indicate a potential upside of 10.41% from the company’s previous close.

Separately, Benchmark raised their target price on CareCloud from $4.00 to $4.50 and gave the company a “buy” rating in a report on Tuesday, August 27th.

CareCloud Stock Performance

NASDAQ CCLD opened at $3.17 on Wednesday. The firm has a market capitalization of $51.39 million, a P/E ratio of -0.89 and a beta of 1.37. CareCloud has a 1-year low of $0.68 and a 1-year high of $3.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 1.01. The business’s 50-day simple moving average is $2.54 and its 200-day simple moving average is $2.35.

CareCloud (NASDAQ:CCLD) last announced its earnings results on Tuesday, August 13th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.07 by $0.10. The business had revenue of $28.09 million for the quarter, compared to the consensus estimate of $27.89 million. CareCloud had a negative return on equity of 82.03% and a negative net margin of 40.28%. Equities analysts predict that CareCloud will post 0.58 EPS for the current year.

Institutional Investors Weigh In On CareCloud

A hedge fund recently raised its stake in CareCloud stock. Heron Bay Capital Management lifted its position in CareCloud, Inc. (NASDAQ:CCLD) by 126.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,576 shares of the company’s stock after acquiring an additional 19,329 shares during the quarter. Heron Bay Capital Management owned 0.21% of CareCloud worth $66,000 as of its most recent SEC filing. Institutional investors and hedge funds own 10.16% of the company’s stock.

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.