CareCloud (NASDAQ:CCLD) Given Buy Rating at Benchmark

Benchmark restated their buy rating on shares of CareCloud (NASDAQ:CCLD) in a research note published on Friday,Benzinga reports. The firm currently has a $4.50 price target on the stock.

Other analysts have also issued research reports about the company. Roth Mkm lowered CareCloud from a “buy” rating to a “neutral” rating and cut their target price for the company from $5.00 to $3.50 in a research report on Wednesday. Roth Capital lowered CareCloud from a “strong-buy” rating to a “hold” rating in a research note on Wednesday.

CareCloud Stock Performance

Shares of CCLD traded down $0.09 during trading hours on Friday, hitting $2.47. 88,629 shares of the stock were exchanged, compared to its average volume of 569,105. The stock’s 50-day moving average price is $2.54 and its two-hundred day moving average price is $2.37. The company has a market cap of $40.11 million, a price-to-earnings ratio of -0.77 and a beta of 1.37. CareCloud has a 12-month low of $0.68 and a 12-month high of $3.88.

CareCloud (NASDAQ:CCLD) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. CareCloud had a negative return on equity of 87.98% and a negative net margin of 35.25%. The company had revenue of $28.09 million for the quarter, compared to analyst estimates of $27.89 million. On average, research analysts expect that CareCloud will post 0.58 earnings per share for the current year.

Institutional Trading of CareCloud

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in CareCloud by 25.1% during the 2nd quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock worth $206,000 after purchasing an additional 21,500 shares in the last quarter. Heron Bay Capital Management increased its position in shares of CareCloud by 126.8% in 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, XTX Topco Ltd purchased a new position in shares of CareCloud in the 3rd quarter valued at $42,000. 10.16% of the stock is owned by hedge funds and other institutional investors.

CareCloud Company Profile

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.