$37.26 Million in Sales Expected for CareCloud, Inc. (NASDAQ:MTBC) This Quarter

Brokerages expect CareCloud, Inc. (NASDAQ:MTBC) to announce $37.26 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for CareCloud’s earnings, with estimates ranging from $35.70 million to $38.77 million. CareCloud reported sales of $32.00 million in the same quarter last year, which indicates a positive year over year growth rate of 16.4%. The company is scheduled to announce its next quarterly earnings report on Thursday, February 24th.

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

CareCloud (NASDAQ:MTBC) last announced its quarterly earnings results on Thursday, November 4th. The technology company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ 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 in the previous year, the firm earned ($0.46) earnings per share.

Several equities research analysts have issued reports on MTBC shares. 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. Zacks Investment Research downgraded CareCloud from a “buy” rating to a “hold” rating in a report on Thursday, August 12th. Finally, Maxim Group reiterated a “buy” rating and issued a $20.00 price objective on shares of CareCloud in a report on Friday, August 6th.

In related news, CEO A Hadi Chaudhry sold 5,000 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of CareCloud by 10.2% in the 2nd quarter. Wells Fargo & Company MN now owns 21,698 shares of the technology company’s stock worth $182,000 after purchasing an additional 2,011 shares in the last quarter. Morgan Stanley increased its stake in CareCloud by 157.5% in the 2nd quarter. Morgan Stanley now owns 5,767 shares of the technology company’s stock worth $49,000 after buying an additional 3,527 shares in the last quarter. Marshall Wace LLP increased its stake in CareCloud by 7.7% in the 3rd quarter. Marshall Wace LLP now owns 52,764 shares of the technology company’s stock worth $402,000 after buying an additional 3,790 shares in the last quarter. Hancock Whitney Corp boosted its holdings in shares of 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 purchasing an additional 5,913 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of CareCloud during the 2nd quarter valued at about $51,000. 23.97% of the stock is currently owned by hedge funds and other institutional investors.

MTBC stock traded up $0.20 during mid-day trading on Friday, hitting $7.00. 50,711 shares of the stock were exchanged, compared to its average volume of 113,061. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.38 and a quick ratio of 1.36. The business has a fifty day moving average price of $7.76 and a 200 day moving average price 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 capitalization of $104.13 million, a price-to-earnings ratio of -9.09 and a beta of 0.83.

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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