CareCloud (NASDAQ:CCLD) Receives Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of CareCloud (NASDAQ:CCLD) in a research note released on Friday morning,Benzinga reports. Benchmark currently has a $4.50 price objective on the stock.

A number of other equities analysts also recently commented on the stock. Roth Mkm downgraded shares of CareCloud from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $5.00 to $3.50 in a report on Wednesday. Roth Capital lowered shares of CareCloud from a “strong-buy” rating to a “hold” rating in a research note on Wednesday.

CareCloud Stock Down 3.5 %

Shares of CareCloud stock traded down $0.09 during trading hours on Friday, hitting $2.47. 88,629 shares of the company’s stock traded hands, compared to its average volume of 569,105. CareCloud has a twelve month low of $0.68 and a twelve month high of $3.88. The company has a market cap of $40.11 million, a PE ratio of -0.77 and a beta of 1.37. The stock has a 50 day simple moving average of $2.54 and a 200-day simple moving average of $2.37.

CareCloud (NASDAQ:CCLD) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.10. The firm had revenue of $28.09 million for the quarter, compared to the consensus estimate of $27.89 million. CareCloud had a negative net margin of 35.25% and a negative return on equity of 87.98%. As a group, equities research analysts predict that CareCloud will post 0.58 EPS for the current year.

Institutional Investors Weigh In On CareCloud

Several hedge funds have recently made changes to their positions in CCLD. XTX Topco Ltd purchased a new position in shares of CareCloud during the 3rd quarter valued at $42,000. Heron Bay Capital Management raised its holdings in shares of CareCloud by 126.8% during the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock worth $66,000 after acquiring an additional 19,329 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in CareCloud by 25.1% during the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after purchasing an additional 21,500 shares during the last quarter. Hedge funds and other institutional investors own 10.16% of the company’s stock.

About CareCloud

CareCloud, Inc, a healthcare information technology (IT) company, provides a suite of cloud-based solutions and related business services to healthcare providers and hospitals primarily in the United States. It operates in two segments, Healthcare IT and Medical Practice Management. The company's portfolio of proprietary software and business services includes technology-enabled business solutions; cloud-based software; digital health services; healthcare IT professional services and staffing; and medical practice management services.