CareCloud (NASDAQ:CCLD) Shares Up 0.5% - Still a Buy?

Key Points

• CareCloud shares rose 0.5% to $2.23 in Monday trading, while volume fell 12% below the average daily level.
• Analyst sentiment is cautious: the stock has a consensus “Hold” rating from one Buy and two Hold ratings, with a consensus price target of $3.25.
• CareCloud’s latest quarterly results were mixed, with revenue of $31.27 million exceeding estimates but EPS of $0.05 falling short of the $0.06 consensus forecast.

CareCloud, Inc. (NASDAQ:CCLD - Get Free Report) shares were up 0.5% on Monday . The stock traded as high as $2.30 and last traded at $2.23. 156,107 shares traded hands during trading, a decline of 12% from the average daily volume of 176,774 shares. The stock had previously closed at $2.22.

Analysts Set New Price Targets

A number of brokerages have issued reports on CCLD. Wall Street Zen cut shares of CareCloud from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of CareCloud in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $3.25.

CareCloud Price Performance

The company has a market cap of $94.75 million, a price-to-earnings ratio of 20.27 and a beta of 1.52. The firm's fifty day moving average price is $2.26 and its 200-day moving average price is $2.65.

CareCloud (NASDAQ:CCLD - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $31.27 million for the quarter, compared to the consensus estimate of $30.51 million. CareCloud had a return on equity of 24.05% and a net margin of 7.87%. As a group, equities analysts forecast that CareCloud, Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CareCloud

Hedge funds have recently made changes to their positions in the business. HRT Financial LP acquired a new position in shares of CareCloud during the fourth quarter worth approximately $43,000. Centiva Capital LP acquired a new stake in CareCloud in the 3rd quarter valued at approximately $47,000. Militia Capital Management LLC acquired a new stake in CareCloud in the 1st quarter valued at approximately $54,000. American Century Companies Inc. acquired a new stake in CareCloud in the 2nd quarter valued at approximately $78,000. Finally, Man Group plc bought a new stake in CareCloud during the 4th quarter valued at $84,000. Institutional investors own 10.16% of the company's stock.

CareCloud Company Profile

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.

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