Analysts Anticipate CareCloud, Inc. (NASDAQ:MTBC) Will Post Earnings of -$0.27 Per Share

Analysts expect CareCloud, Inc. (NASDAQ:MTBCGet Rating) to post ($0.27) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for CareCloud’s earnings. The highest EPS estimate is ($0.17) and the lowest is ($0.36). CareCloud posted earnings per share of ($0.36) during the same quarter last year, which would indicate a positive year-over-year growth rate of 25%. The company is scheduled to announce its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that CareCloud will report full-year earnings of ($0.50) per share for the current fiscal year, with EPS estimates ranging from ($0.72) to ($0.16). For the next financial year, analysts forecast that the firm will report earnings of ($0.54) per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover CareCloud.

CareCloud (NASDAQ:MTBCGet Rating) last posted its earnings results on Monday, March 14th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.16. The firm had revenue of $37.46 million during the quarter, compared to analysts’ expectations of $35.95 million. CareCloud had a net margin of 2.03% and a return on equity of 2.86%. During the same period in the previous year, the company earned $0.01 earnings per share.

A number of research firms have recently commented on MTBC. TheStreet lowered shares of CareCloud from a “c-” rating to a “d+” rating in a research report on Friday, April 1st. StockNews.com raised shares of CareCloud from a “hold” rating to a “buy” rating in a research report on Thursday, April 7th. Finally, B. Riley dropped their target price on shares of CareCloud from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, March 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $14.00.

NASDAQ MTBC traded down $0.06 during trading on Friday, reaching $3.95. The company’s stock had a trading volume of 39,296 shares, compared to its average volume of 52,728. The company has a current ratio of 1.20, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $59.49 million, a PE ratio of -5.00 and a beta of 0.93. The business has a 50-day moving average price of $4.83 and a 200-day moving average price of $5.93. CareCloud has a 1-year low of $3.80 and a 1-year high of $9.39.

In other news, CEO A Hadi Chaudhry sold 3,240 shares of the business’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $25.58, for a total value of $82,879.20. The sale was disclosed in a filing with the SEC, which is available at this link. 34.90% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of MTBC. Dimensional Fund Advisors LP boosted its stake in shares of CareCloud by 274.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 111,713 shares of the technology company’s stock valued at $851,000 after purchasing an additional 81,902 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of CareCloud in the 4th quarter valued at $443,000. Gabelli Funds LLC lifted its position in CareCloud by 125.6% during the 3rd quarter. Gabelli Funds LLC now owns 106,100 shares of the technology company’s stock worth $808,000 after buying an additional 59,075 shares in the last quarter. Franklin Resources Inc. lifted its position in CareCloud by 16.3% during the 3rd quarter. Franklin Resources Inc. now owns 390,791 shares of the technology company’s stock worth $2,978,000 after buying an additional 54,700 shares in the last quarter. Finally, Level Four Advisory Services LLC acquired a new position in CareCloud during the 4th quarter worth about $255,000. Institutional investors own 23.10% of the company’s stock.

About CareCloud (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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