CareCloud (NASDAQ:CCLD) Trading 1.6% Higher - Here's What Happened

Key Points

• CareCloud's stock price rose by 1.6%, trading at $2.60 with a total of 351,115 shares changing hands, indicating a volume increase of 21% compared to its average trading session.
• Analysts have mixed ratings on CareCloud, with Roth Capital maintaining a "neutral" rating while Wall Street Zen upgraded it from "hold" to a "buy" rating.
• CareCloud's recent earnings report showed earnings per share of $0.07, slightly missing the analysts' expectations while reporting revenue of $27.38 million, which exceeded consensus estimates.

CareCloud, Inc. (NASDAQ:CCLD - Get Free Report)'s share price traded up 1.6% on Friday . The stock traded as high as $2.63 and last traded at $2.60. 351,115 shares were traded during mid-day trading, an increase of 21% from the average session volume of 290,928 shares. The stock had previously closed at $2.56.

Analysts Set New Price Targets

Several brokerages have recently commented on CCLD. Roth Capital restated a "neutral" rating on shares of CareCloud in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of CareCloud from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. One equities 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, CareCloud currently has a consensus rating of "Hold" and an average target price of $2.50.

CareCloud Trading Up 3.0%

The company has a market capitalization of $115.11 million, a price-to-earnings ratio of -68.00 and a beta of 1.99. The stock's fifty day simple moving average is $2.44 and its 200-day simple moving average is $2.28.

CareCloud (NASDAQ:CCLD - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). The business had revenue of $27.38 million for the quarter, compared to analyst estimates of $27.19 million. CareCloud had a return on equity of 23.51% and a net margin of 10.08%. CareCloud has set its FY 2025 guidance at 0.100-0.130 EPS. On average, analysts anticipate that CareCloud, Inc. will post 0.58 EPS for the current fiscal year.

Insider Transactions at CareCloud

In other CareCloud news, Director John N. Daly sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $2.11, for a total transaction of $31,650.00. Following the sale, the director directly owned 61,750 shares in the company, valued at $130,292.50. This represents a 19.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 14.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CareCloud

A number of hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC acquired a new stake in shares of CareCloud in the 1st quarter valued at $28,000. XTX Topco Ltd acquired a new stake in shares of CareCloud in the 1st quarter valued at $35,000. Kingsview Wealth Management LLC acquired a new stake in shares of CareCloud in the 1st quarter valued at $36,000. Axxcess Wealth Management LLC acquired a new stake in shares of CareCloud in the 1st quarter valued at $41,000. Finally, Colonial River Investments LLC acquired a new stake in shares of CareCloud in the 1st quarter valued at $41,000. 10.16% of the stock is currently owned by institutional investors and hedge funds.

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.