StockNews.com Initiates Coverage on CareCloud (NASDAQ:MTBC)

StockNews.com started coverage on shares of CareCloud (NASDAQ:MTBCGet Rating) in a report released on Tuesday morning. The brokerage issued a buy rating on the technology company’s stock.

Separately, Roth Capital reiterated a buy rating on shares of CareCloud in a research note on Monday, May 9th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, CareCloud has a consensus rating of Buy and a consensus price target of $14.00.

CareCloud Price Performance

MTBC stock opened at $3.76 on Tuesday. The stock has a market capitalization of $56.65 million, a PE ratio of -6.06 and a beta of 1.18. The company’s 50-day moving average is $3.75 and its 200-day moving average is $4.46. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.29. CareCloud has a 1 year low of $3.25 and a 1 year high of $9.39.

CareCloud (NASDAQ:MTBCGet Rating) last posted its earnings results on Monday, May 9th. The technology company reported ($0.19) earnings per share for the quarter, topping 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%. The company had revenue of $35.34 million for the quarter, compared to analyst estimates of $33.62 million. During the same quarter in the prior year, the business posted ($0.36) EPS. Equities research analysts expect that CareCloud will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in CareCloud in the 1st quarter worth approximately $56,000. Commonwealth Equity Services LLC bought a new position in CareCloud in the 4th quarter worth approximately $79,000. McDonald Partners LLC boosted its holdings in CareCloud by 13.9% in the 2nd quarter. McDonald Partners LLC now owns 30,226 shares of the technology company’s stock worth $104,000 after buying an additional 3,700 shares during the period. National Asset Management Inc. boosted its holdings in CareCloud by 37.1% in the 4th quarter. National Asset Management Inc. now owns 16,435 shares of the technology company’s stock worth $104,000 after buying an additional 4,450 shares during the period. Finally, State Street Corp boosted its holdings in CareCloud by 13.3% in the 1st quarter. State Street Corp now owns 26,463 shares of the technology company’s stock worth $136,000 after buying an additional 3,100 shares during the period. 24.32% of the stock is owned by institutional investors.

CareCloud Company Profile

(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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