CareCloud (NASDAQ:CCLD) Upgraded to Strong-Buy at Wall Street Zen

CareCloud (NASDAQ:CCLD) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Other equities research analysts have also issued reports about the company. Roth Mkm restated a “neutral” rating and set a $3.25 price target on shares of CareCloud in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of CareCloud in a research note on Monday, December 29th. Finally, ThinkEquity started coverage on CareCloud in a research note on Monday, November 24th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $3.25.

CareCloud Stock Performance

CareCloud stock opened at $2.32 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.24 and a current ratio of 1.26. The company has a market capitalization of $98.37 million, a price-to-earnings ratio of 58.01 and a beta of 2.05. CareCloud has a fifty-two week low of $1.14 and a fifty-two week high of $4.25. The stock has a fifty day moving average of $2.90 and a two-hundred day moving average of $3.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CCLD. Baader Bank Aktiengesellschaft acquired a new stake in CareCloud in the third quarter worth about $39,000. Centiva Capital LP bought a new stake in shares of CareCloud during the 3rd quarter worth about $47,000. HRT Financial LP acquired a new stake in shares of CareCloud in the 4th quarter worth approximately $43,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of CareCloud in the second quarter valued at approximately $50,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of CareCloud during the third quarter valued at approximately $87,000. Institutional investors own 10.16% of the company’s stock.

About CareCloud

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.