CareCloud (NASDAQ:CCLD) Upgraded 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 report released on Saturday morning.

Several other equities research analysts have also recently issued reports on the stock. ThinkEquity started coverage on shares of CareCloud in a research report on Monday, November 24th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of CareCloud in a report on Monday, December 29th. Finally, Roth Mkm restated a “neutral” rating and set a $3.25 price objective on shares of CareCloud in a report on Thursday, November 6th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.25.

CareCloud Stock Performance

NASDAQ CCLD opened at $2.32 on Friday. The business’s 50-day moving average price is $2.90 and its 200 day moving average price is $3.06. The company has a current ratio of 1.26, a quick ratio of 1.24 and a debt-to-equity ratio of 0.12. CareCloud has a twelve month low of $1.14 and a twelve month high of $4.25. The company has a market capitalization of $98.37 million, a PE ratio of 58.01 and a beta of 2.05.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Prospera Financial Services Inc grew its stake in shares of CareCloud by 31.8% during the second quarter. Prospera Financial Services Inc now owns 75,966 shares of the company’s stock valued at $179,000 after acquiring an additional 18,339 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in CareCloud by 61.8% in the second quarter. Hillsdale Investment Management Inc. now owns 130,900 shares of the company’s stock valued at $309,000 after purchasing an additional 50,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in CareCloud during the 2nd quarter valued at approximately $50,000. Legato Capital Management LLC purchased a new stake in CareCloud during the 4th quarter worth approximately $647,000. Finally, Bailard Inc. raised its position in shares of CareCloud by 5.5% in the 4th quarter. Bailard Inc. now owns 88,951 shares of the company’s stock valued at $260,000 after purchasing an additional 4,665 shares in the last quarter. 10.16% of the stock is currently owned by hedge funds and other institutional investors.

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.