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

CareCloud (NASDAQ:CCLD) was downgraded by equities researchers at Roth Mkm from a “buy” rating to a “neutral” rating in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $3.50 price target on the stock, down from their prior price target of $5.00. Roth Mkm’s target price indicates a potential upside of 36.72% from the company’s current price.

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

CareCloud Stock Performance

NASDAQ:CCLD opened at $2.56 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. CareCloud has a twelve month low of $0.68 and a twelve month high of $3.88. The company has a fifty day moving average of $2.54 and a 200-day moving average of $2.36. The firm has a market capitalization of $41.50 million, a P/E ratio of -0.80 and a beta of 1.37.

CareCloud (NASDAQ:CCLD) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.10. The firm had revenue of $28.09 million for the quarter, compared to analyst estimates of $27.89 million. CareCloud had a negative net margin of 35.25% and a negative return on equity of 90.27%. As a group, sell-side analysts anticipate that CareCloud will post 0.58 EPS for the current year.

Hedge Funds Weigh In On CareCloud

A hedge fund recently raised its stake in CareCloud stock. Renaissance Technologies LLC lifted its position in CareCloud, Inc. (NASDAQ:CCLD) by 25.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,200 shares of the company’s stock after acquiring an additional 21,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.66% of CareCloud worth $206,000 at the end of the most recent reporting period. 10.16% of the stock is 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.