CareCloud (NASDAQ:CCLD) Posts Earnings Results, Beats Estimates By $0.30 EPS

CareCloud (NASDAQ:CCLD) posted its quarterly earnings results on Tuesday. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.30, Zacks reports. CareCloud had a negative return on equity of 60.57% and a negative net margin of 41.58%. The business had revenue of $25.96 million for the quarter, compared to analysts’ expectations of $26.55 million. During the same quarter in the prior year, the business earned ($0.28) EPS. CareCloud updated its FY 2024 guidance to EPS.

CareCloud Trading Up 21.9 %

Shares of CareCloud stock opened at $2.23 on Thursday. CareCloud has a 52-week low of $0.68 and a 52-week high of $3.58. The stock has a market cap of $35.95 million, a PE ratio of -0.55 and a beta of 1.07. The firm has a 50-day moving average of $1.23 and a 200-day moving average of $1.24. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.98 and a current ratio of 1.00.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Maxim Group upgraded shares of CareCloud from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Friday, March 22nd. Benchmark restated a “buy” rating and set a $3.50 price objective on shares of CareCloud in a report on Monday, March 25th.

About CareCloud

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.