Analysts Expect CareCloud, Inc. (NASDAQ:MTBC) Will Announce Quarterly Sales of $37.26 Million

Wall Street analysts expect CareCloud, Inc. (NASDAQ:MTBC) to post sales of $37.26 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for CareCloud’s earnings. The highest sales estimate is $38.77 million and the lowest is $35.70 million. CareCloud reported sales of $32.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.4%. The company is scheduled to report its next earnings results on Thursday, February 24th.

On average, analysts expect that CareCloud will report full-year sales of $139.39 million for the current year, with estimates ranging from $137.80 million to $140.90 million. For the next financial year, analysts anticipate that the firm will report sales of $154.05 million, with estimates ranging from $148.00 million to $159.85 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover CareCloud.

CareCloud (NASDAQ:MTBC) last posted its earnings results on Thursday, November 4th. The technology company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.04. CareCloud had a negative return on equity of 0.53% and a negative net margin of 0.40%. During the same period last year, the firm earned ($0.46) EPS.

Several brokerages have issued reports on MTBC. B. Riley reaffirmed a “buy” rating and set a $20.00 price target on shares of CareCloud in a research note on Wednesday, August 11th. Maxim Group reaffirmed a “buy” rating and set a $20.00 price target on shares of CareCloud in a research note on Friday, August 6th. Finally, Zacks Investment Research lowered CareCloud from a “buy” rating to a “hold” rating in a research note on Thursday, August 12th.

NASDAQ:MTBC traded up $0.20 during trading hours on Friday, reaching $7.00. The stock had a trading volume of 50,711 shares, compared to its average volume of 113,061. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.38. The stock has a 50 day simple moving average of $7.76 and a 200 day simple moving average of $8.09. CareCloud has a 12-month low of $6.66 and a 12-month high of $12.84. The stock has a market cap of $104.13 million, a P/E ratio of -9.09 and a beta of 0.83.

In other news, CEO A Hadi Chaudhry sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 27th. The stock was sold at an average price of $8.19, for a total value of $40,950.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 14,500 shares of company stock worth $117,190. Insiders own 37.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in MTBC. Advisor Group Holdings Inc. lifted its position in CareCloud by 5.3% in the 2nd quarter. Advisor Group Holdings Inc. now owns 120,165 shares of the technology company’s stock valued at $1,012,000 after acquiring an additional 6,050 shares in the last quarter. P.A.W. Capital Corp lifted its position in CareCloud by 7.2% in the 2nd quarter. P.A.W. Capital Corp now owns 654,000 shares of the technology company’s stock valued at $5,507,000 after acquiring an additional 44,000 shares in the last quarter. Paradigm Capital Management Inc. NY bought a new position in CareCloud in the 2nd quarter valued at approximately $168,000. Hancock Whitney Corp raised its stake in CareCloud by 47.5% during the 2nd quarter. Hancock Whitney Corp now owns 18,366 shares of the technology company’s stock valued at $155,000 after buying an additional 5,913 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in CareCloud by 39.3% during the 2nd quarter. Bank of Montreal Can now owns 97,855 shares of the technology company’s stock valued at $850,000 after buying an additional 27,589 shares during the last quarter. 23.97% of the stock is currently owned by institutional investors and hedge funds.

CareCloud Company Profile

CareCloud, Inc brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows, and make better business and care decisions. More than 40,000 providers across the United States count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs.

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