CareCloud (NASDAQ:CCLD) Stock Moved Up to “Strong-Buy” by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of CareCloud (NASDAQ:CCLD – Free Report) from a buy rating to a strong-buy rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on CCLD. Weiss Ratings upgraded shares of CareCloud from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 12th. Roth Capital dropped coverage on shares of CareCloud in a research report on Tuesday, September 15th. They issued a “neutral” rating on the stock. Prior estimates, ratings, and price targets should no longer be relied upon. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, CareCloud currently has an average rating of “Moderate Buy”.

View Our Latest Analysis on CareCloud

CareCloud Trading Up 6.5%

NASDAQ:CCLD opened at $2.30 on Friday. CareCloud has a 52-week low of $1.67 and a 52-week high of $3.81. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 2.20. The stock has a fifty day simple moving average of $2.01 and a 200-day simple moving average of $2.46. The company has a market capitalization of $97.73 million, a PE ratio of 17.69 and a beta of 1.57.

CareCloud (NASDAQ:CCLD – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. CareCloud had a net margin of 7.36% and a return on equity of 32.32%. The firm had revenue of $33.73 million for the quarter, compared to analysts’ expectations of $33.50 million. On average, equities research analysts expect that CareCloud will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CareCloud

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its position in shares of CareCloud by 5.9% in the first quarter. Renaissance Technologies LLC now owns 472,300 shares of the company’s stock valued at $1,724,000 after acquiring an additional 26,270 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of CareCloud by 49.7% during the first quarter. Dimensional Fund Advisors LP now owns 377,567 shares of the company’s stock valued at $1,377,000 after acquiring an additional 125,435 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in CareCloud during the 1st quarter worth about $920,000. Sei Investments Co. increased its position in CareCloud by 110.2% during the 1st quarter. Sei Investments Co. now owns 228,358 shares of the company’s stock worth $834,000 after purchasing an additional 119,705 shares in the last quarter. Finally, Globeflex Capital L P purchased a new stake in CareCloud during the 2nd quarter worth about $711,000. 10.16% of the stock is owned by institutional investors and hedge funds.

CareCloud Company Profile

(Get Free Report)

CareCloud, Inc (NASDAQ: CCLD) provides cloud-based health care information technology and revenue cycle management services to medical practices, hospitals and other health care organizations. The company’s solutions are designed to help providers manage administrative, clinical and financial operations through integrated software and technology-enabled services.

Its offerings include electronic health records, practice management, medical billing and revenue cycle management, patient engagement tools, telehealth capabilities and related health care technology services.

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