CareCloud (NASDAQ:CCLD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CareCloud (NASDAQ:CCLD) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other research firms have also recently commented on CCLD. Weiss Ratings upgraded CareCloud from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 12th. Roth Capital dropped coverage on shares of CareCloud in a report on Tuesday, September 15th. They issued a “neutral” rating on the stock. Prior estimates, ratings, and price targets should no longer be relied upon. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

CareCloud Stock Performance

Shares of CCLD opened at $2.51 on Friday. The stock has a 50 day moving average of $2.01 and a 200 day moving average of $2.46. The company has a market capitalization of $106.65 million, a price-to-earnings ratio of 19.31 and a beta of 1.57. CareCloud has a 12 month low of $1.67 and a 12 month high of $3.81. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 2.20.

CareCloud (NASDAQ:CCLD) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04. The business had revenue of $33.73 million for the quarter, compared to analysts’ expectations of $33.50 million. CareCloud had a return on equity of 27.07% and a net margin of 6.21%. As a group, sell-side analysts forecast that CareCloud will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On CareCloud

Several institutional investors have recently made changes to their positions in CCLD. Militia Capital Management LLC purchased a new position in shares of CareCloud in the first quarter valued at $54,000. Kingsview Wealth Management LLC purchased a new stake in CareCloud during the 2nd quarter worth about $55,000. Man Group plc purchased a new stake in CareCloud during the 2nd quarter worth about $138,000. Bank of America Corp DE purchased a new stake in CareCloud during the 2nd quarter worth about $183,000. Finally, Empowered Funds LLC boosted its stake in CareCloud by 10.3% in the 1st quarter. Empowered Funds LLC now owns 150,890 shares of the company’s stock worth $551,000 after purchasing an additional 14,030 shares during the period. Hedge funds and other institutional investors own 10.16% of the company’s stock.

CareCloud Company Profile

CareCloud, Inc (NASDAQ: CCLD) provides cloud-based health care information technology and revenue cycle management services to medical practices, hospitals and other health care organizations. The company’s solutions are designed to help providers manage administrative, clinical and financial operations through integrated software and technology-enabled services.

Its offerings include electronic health records, practice management, medical billing and revenue cycle management, patient engagement tools, telehealth capabilities and related health care technology services.