CareCloud (MTBC) to Release Earnings on Monday

CareCloud (NASDAQ:MTBCGet Rating) is scheduled to be releasing its earnings data before the market opens on Monday, May 9th. Analysts expect CareCloud to post earnings of ($0.27) per share for the quarter. CareCloud has set its FY 2022 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

CareCloud (NASDAQ:MTBCGet Rating) last announced its quarterly earnings results on Monday, March 14th. The technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.16. The firm had revenue of $37.46 million for 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 quarter in the previous year, the company posted $0.01 EPS. On average, analysts expect CareCloud to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Shares of NASDAQ MTBC opened at $3.95 on Monday. The company has a market capitalization of $59.50 million, a P/E ratio of -5.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.20 and a quick ratio of 1.19. The company has a 50 day simple moving average of $4.83 and a 200-day simple moving average of $5.90. CareCloud has a 1 year low of $3.80 and a 1 year high of $9.39.

In other CareCloud news, CEO A Hadi Chaudhry sold 3,240 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is available at the SEC website. Company insiders own 34.90% of the company’s stock.

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new stake in CareCloud during the 4th quarter worth about $27,000. Morgan Stanley increased its stake in CareCloud by 157.5% in the second quarter. Morgan Stanley now owns 5,767 shares of the technology company’s stock valued at $49,000 after purchasing an additional 3,527 shares during the last quarter. Citadel Advisors LLC acquired a new stake in CareCloud during the second quarter worth approximately $173,000. Wells Fargo & Company MN lifted its position in shares of CareCloud by 10.2% during the 2nd quarter. Wells Fargo & Company MN now owns 21,698 shares of the technology company’s stock worth $182,000 after buying an additional 2,011 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of CareCloud in the 2nd quarter valued at $270,000. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

MTBC has been the topic of several research analyst reports. TheStreet lowered shares of CareCloud from a “c-” rating to a “d+” rating in a report on Friday, April 1st. B. Riley lowered their price target on CareCloud from $18.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, March 15th. Finally, StockNews.com upgraded CareCloud from a “hold” rating to a “buy” rating in a report on Thursday, April 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, CareCloud has a consensus rating of “Buy” and a consensus price target of $14.00.

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.

See Also

Earnings History for CareCloud (NASDAQ:MTBC)

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