Wall Street Zen Upgrades CareCloud (NASDAQ:CCLD) to Strong-Buy

CareCloud (NASDAQ:CCLD) was upgraded by 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 several other research reports. Weiss Ratings raised 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 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 research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, CareCloud has an average rating of “Moderate Buy”.

CareCloud Price Performance

Shares of CCLD stock opened at $2.30 on Friday. CareCloud has a fifty-two week low of $1.67 and a fifty-two week high of $3.81. The stock’s 50-day simple moving average is $2.01 and its 200-day simple moving average is $2.46. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a market capitalization of $97.73 million, a price-to-earnings ratio of 17.69 and a beta of 1.57.

CareCloud (NASDAQ:CCLD) last released its earnings results on Thursday, November 5th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The firm had revenue of $33.73 million during the quarter, compared to the consensus estimate of $33.50 million. CareCloud had a return on equity of 32.32% and a net margin of 7.36%. As a group, equities analysts forecast that CareCloud will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CareCloud

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its stake in CareCloud by 5.9% during the 1st quarter. Renaissance Technologies LLC now owns 472,300 shares of the company’s stock valued at $1,724,000 after purchasing an additional 26,270 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of CareCloud by 49.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 377,567 shares of the company’s stock valued at $1,377,000 after purchasing an additional 125,435 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of CareCloud in the 2nd quarter valued at about $711,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of CareCloud in the 1st quarter valued at about $920,000. Finally, BlackRock Inc. bought a new position in shares of CareCloud during the second quarter worth about $486,000. Institutional investors and hedge funds 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.