CareCloud (NASDAQ:CCLD) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded CareCloud from “buy” to “strong buy.” Other coverage included a Weiss Ratings upgrade to “hold,” while MarketBeat’s consensus rating was “Moderate Buy.”
• CareCloud reported quarterly EPS of $0.14, beating the $0.10 estimate, and revenue of $33.73 million, slightly above the $33.50 million forecast.
• Shares were reported up 6.5%; CareCloud had a market capitalization of about $97.7 million, and institutional investors owned 10.16% of its stock.

CareCloud (NASDAQ:CCLD - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

CCLD has been the topic of a number of other reports. Weiss Ratings upgraded CareCloud from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, October 12th. Roth Capital dropped coverage on CareCloud in a research report on Tuesday, September 15th. They set a "neutral" rating for the company. Prior estimates, ratings, and price targets should no longer be relied upon. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, CareCloud currently has a consensus rating of "Moderate Buy".

CareCloud Trading Up 6.5%

Shares of NASDAQ:CCLD opened at $2.30 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $97.73 million, a PE ratio of 17.69 and a beta of 1.57. The company's 50-day moving average price is $2.01 and its two-hundred day moving average price is $2.46. CareCloud has a one year low of $1.67 and a one year high of $3.81.

CareCloud (NASDAQ:CCLD - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. The company had revenue of $33.73 million during the quarter, compared to analyst estimates of $33.50 million. CareCloud had a net margin of 6.21% and a return on equity of 27.07%. On average, equities analysts forecast that CareCloud will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On CareCloud

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chapin Davis Inc. raised its stake in CareCloud by 24.1% during the second quarter. Chapin Davis Inc. now owns 154,285 shares of the company's stock worth $327,000 after acquiring an additional 30,000 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of CareCloud in the 2nd quarter valued at about $55,000. Empowered Funds LLC bought a new position in shares of CareCloud during the second quarter worth approximately $348,000. Bank of America Corp DE bought a new position in CareCloud in the 2nd quarter valued at about $183,000. Finally, Man Group plc bought a new position in CareCloud in the 2nd quarter valued at approximately $138,000. 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.

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