$37.48 Million in Sales Expected for CareCloud, Inc. (NASDAQ:MTBC) This Quarter

Equities research analysts expect that CareCloud, Inc. (NASDAQ:MTBCGet Rating) will announce $37.48 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for CareCloud’s earnings, with estimates ranging from $37.00 million to $38.30 million. CareCloud posted sales of $34.07 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that CareCloud will report full-year sales of $153.56 million for the current financial year, with estimates ranging from $152.30 million to $155.17 million. For the next fiscal year, analysts expect that the business will report sales of $167.20 million, with estimates ranging from $166.00 million to $168.90 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for CareCloud.

CareCloud (NASDAQ:MTBCGet Rating) last issued its quarterly earnings results on Monday, May 9th. The technology company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. CareCloud had a net margin of 4.09% and a return on equity of 6.01%. During the same period last year, the company posted ($0.36) EPS.

Several equities research analysts have weighed in on MTBC shares. Roth Capital restated a “buy” rating on shares of CareCloud in a research note on Monday, May 9th. StockNews.com started coverage on shares of CareCloud in a research note on Thursday, May 12th. They set a “buy” rating on the stock. B. Riley dropped their price target on CareCloud from $18.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, March 15th. Finally, TheStreet lowered CareCloud from a “c-” rating to a “d+” rating in a research report on Friday, April 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $14.00.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTBC. Morgan Stanley lifted its stake in shares of 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 buying an additional 3,527 shares in the last quarter. Citadel Advisors LLC bought a new position in CareCloud in the 2nd quarter valued at about $173,000. Millennium Management LLC acquired a new position in CareCloud during the 2nd quarter valued at about $270,000. Wells Fargo & Company MN increased its holdings in 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 purchasing an additional 2,011 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in CareCloud by 6.0% during the 3rd quarter. Advisor Group Holdings Inc. now owns 127,408 shares of the technology company’s stock worth $972,000 after purchasing an additional 7,243 shares in the last quarter. Hedge funds and other institutional investors own 24.32% of the company’s stock.

MTBC stock opened at $3.95 on Monday. CareCloud has a 52 week low of $3.25 and a 52 week high of $9.39. The company’s 50-day simple moving average is $4.41 and its 200 day simple moving average is $5.47. The company has a market capitalization of $59.51 million, a PE ratio of -6.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.29 and a current ratio of 1.31.

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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