CareCloud (NASDAQ:CCLD) Stock Rating Lowered by Roth Mkm

CareCloud (NASDAQ:CCLD) was downgraded by investment analysts at Roth Mkm from a “buy” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat reports. They presently have a $3.50 price objective on the stock, down from their previous price objective of $5.00. Roth Mkm’s price target indicates a potential upside of 36.72% from the stock’s current price.

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

CareCloud Trading Down 2.3 %

Shares of CCLD opened at $2.56 on Wednesday. The business’s fifty day moving average is $2.54 and its 200-day moving average is $2.36. The firm has a market cap of $41.50 million, a price-to-earnings ratio of -0.80 and a beta of 1.37. 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 52-week low of $0.68 and a 52-week high of $3.88.

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

Hedge Funds Weigh In On CareCloud

An institutional investor recently raised its position in CareCloud stock. Renaissance Technologies LLC raised its position in CareCloud, Inc. (NASDAQ:CCLD) by 25.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 107,200 shares of the company’s stock after purchasing an additional 21,500 shares during the period. Renaissance Technologies LLC owned 0.66% of CareCloud worth $206,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 10.16% of the company’s stock.

CareCloud Company Profile

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.