CareCloud (NASDAQ:CCLD) Downgraded by Wall Street Zen to Buy

CareCloud (NASDAQ:CCLD) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other research analysts also recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of CareCloud in a research note on Monday, December 29th. ThinkEquity assumed coverage on CareCloud in a report on Monday, November 24th. They issued a “buy” rating for the company. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $3.25 target price on shares of CareCloud in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, CareCloud presently has a consensus rating of “Hold” and a consensus target price of $3.25.

CareCloud Stock Down 5.2%

CCLD stock opened at $2.90 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.24 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $3.04 and its two-hundred day moving average is $3.04. The stock has a market cap of $122.96 million, a P/E ratio of 72.52 and a beta of 1.99. CareCloud has a twelve month low of $1.14 and a twelve month high of $4.75.

CareCloud (NASDAQ:CCLD) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $31.07 million during the quarter, compared to analysts’ expectations of $29.01 million. CareCloud had a net margin of 9.80% and a return on equity of 24.31%. Research analysts expect that CareCloud will post 0.58 earnings per share for the current fiscal year.

Insider Activity at CareCloud

In related news, Director John N. Daly sold 15,000 shares of CareCloud stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $3.41, for a total value of $51,150.00. Following the sale, the director directly owned 51,750 shares in the company, valued at $176,467.50. The trade was a 22.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 14.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CareCloud

A number of hedge funds and other institutional investors have recently bought and sold shares of CCLD. Prospera Financial Services Inc grew its stake in shares of CareCloud by 31.8% during the 2nd quarter. Prospera Financial Services Inc now owns 75,966 shares of the company’s stock worth $179,000 after purchasing an additional 18,339 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in CareCloud by 61.8% during the second quarter. Hillsdale Investment Management Inc. now owns 130,900 shares of the company’s stock worth $309,000 after buying an additional 50,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in CareCloud during the second quarter worth about $50,000. Millennium Management LLC acquired a new position in CareCloud during the third quarter worth about $284,000. Finally, Centiva Capital LP purchased a new position in CareCloud in the third quarter valued at about $47,000. Institutional investors and hedge funds own 10.16% of the company’s stock.

CareCloud Company Profile

CareCloud, Inc is a healthcare technology company that provides cloud-based practice management, electronic health record (EHR) and revenue cycle management (RCM) solutions to medical practices and health systems. Its flagship offering, the CareCloud Central platform, combines clinical, financial and administrative workflows into a single, unified system. The platform includes modules for scheduling, billing, coding, patient engagement and telehealth, enabling practices to streamline front- and back-office operations and improve overall practice performance.

Founded in 2009 and headquartered in Miami Beach, Florida, CareCloud serves small to mid-size physician groups and specialty clinics across the United States.