CareCloud, Inc. (NASDAQ:MTBC) Expected to Announce Quarterly Sales of $33.62 Million

Equities analysts expect that CareCloud, Inc. (NASDAQ:MTBCGet Rating) will announce $33.62 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for CareCloud’s earnings, with the highest sales estimate coming in at $33.72 million and the lowest estimate coming in at $33.50 million. CareCloud posted sales of $29.77 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.9%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that CareCloud will report full-year sales of $152.80 million for the current fiscal year, with estimates ranging from $152.44 million to $153.46 million. For the next fiscal year, analysts anticipate that the business will report sales of $168.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover CareCloud.

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

Several equities analysts recently issued reports on the company. TheStreet cut CareCloud from a “c-” rating to a “d+” rating in a research report on Friday, April 1st. StockNews.com upgraded CareCloud from a “hold” rating to a “buy” rating in a research report on Thursday, April 7th. Finally, B. Riley dropped their price target on 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. Based on data from MarketBeat.com, CareCloud currently has an average rating of “Buy” and an average target price of $14.00.

Shares of MTBC stock opened at $3.95 on Monday. The stock has a market capitalization of $59.50 million, a PE ratio of -5.00 and a beta of 0.93. CareCloud has a 52-week low of $3.80 and a 52-week high of $9.39. The stock’s 50-day moving average price is $4.83 and its 200 day moving average price is $5.90. The company has a quick ratio of 1.19, a current ratio of 1.20 and a debt-to-equity ratio of 0.08.

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

A number of hedge funds have recently bought and sold shares of the stock. P.A.W. Capital Corp lifted its stake in CareCloud by 3.7% in the 1st quarter. P.A.W. Capital Corp now owns 700,000 shares of the technology company’s stock valued at $3,605,000 after buying an additional 25,000 shares in the last quarter. Franklin Resources Inc. raised its holdings in CareCloud by 16.3% in the 3rd quarter. Franklin Resources Inc. now owns 390,791 shares of the technology company’s stock valued at $2,978,000 after acquiring an additional 54,700 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in CareCloud by 22.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 136,909 shares of the technology company’s stock valued at $865,000 after acquiring an additional 25,196 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in CareCloud by 6.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 127,408 shares of the technology company’s stock valued at $972,000 after acquiring an additional 7,243 shares during the last quarter. Finally, Gabelli Funds LLC raised its holdings in CareCloud by 125.6% in the 3rd quarter. Gabelli Funds LLC now owns 106,100 shares of the technology company’s stock valued at $808,000 after acquiring an additional 59,075 shares during the last quarter. 23.10% of the stock is currently owned by hedge funds and other 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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