CareCloud (NASDAQ:CCLD) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of CareCloud (NASDAQ:CCLD) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Several other research firms have also recently commented on CCLD. Weiss Ratings upgraded shares of CareCloud from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Roth Capital reiterated a “neutral” rating and set a $3.25 price objective on shares of CareCloud in a research note on Thursday, November 6th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, CareCloud has a consensus rating of “Hold” and a consensus price target of $2.38.

CareCloud Stock Down 1.6%

CCLD traded down $0.05 during trading on Friday, reaching $3.13. 516,770 shares of the stock traded hands, compared to its average volume of 589,274. The stock has a market capitalization of $132.70 million, a PE ratio of -78.25 and a beta of 2.07. The stock’s 50-day moving average is $3.32 and its 200 day moving average is $2.74. CareCloud has a 12 month low of $1.14 and a 12 month high of $4.84.

CareCloud (NASDAQ:CCLD) last released its earnings results on Thursday, November 6th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $31.07 million for the quarter, compared to analysts’ expectations of $29.01 million. CareCloud had a return on equity of 23.51% and a net margin of 10.08%. As a group, equities research analysts anticipate that CareCloud will post 0.58 EPS for the current year.

Insider Buying and Selling at CareCloud

In other CareCloud news, Director John N. Daly sold 15,000 shares of CareCloud stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $3.41, for a total transaction of $51,150.00. Following the transaction, the director directly owned 51,750 shares of the company’s stock, valued at approximately $176,467.50. This trade represents a 22.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 14.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CareCloud

Several large investors have recently modified their holdings of CCLD. Baader Bank Aktiengesellschaft bought a new position in shares of CareCloud during the 3rd quarter valued at about $39,000. HighTower Advisors LLC bought a new position in shares of CareCloud in the first quarter valued at approximately $28,000. Vanguard Personalized Indexing Management LLC bought a new stake in CareCloud in the second quarter worth $50,000. XTX Topco Ltd bought a new stake in CareCloud in the 1st quarter worth approximately $35,000. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of CareCloud in the first quarter worth approximately $36,000. 10.16% of the stock is 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.