Analysts Expect CareCloud, Inc. (NASDAQ:MTBC) Will Post Earnings of -$0.19 Per Share

Wall Street brokerages expect that CareCloud, Inc. (NASDAQ:MTBC) will post ($0.19) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for CareCloud’s earnings, with the lowest EPS estimate coming in at ($0.19) and the highest estimate coming in at ($0.18). CareCloud posted earnings of ($0.46) per share in the same quarter last year, which would suggest a positive year over year growth rate of 58.7%. The business is scheduled to issue its next quarterly earnings report on Monday, November 8th.

According to Zacks, analysts expect that CareCloud will report full year earnings of ($0.94) per share for the current fiscal year, with EPS estimates ranging from ($0.99) to ($0.88). For the next financial year, analysts forecast that the business will report earnings of ($0.39) per share, with EPS estimates ranging from ($0.64) to ($0.19). Zacks’ earnings per share averages are an average based on a survey of research analysts that cover CareCloud.

CareCloud (NASDAQ:MTBC) last issued its quarterly earnings data on Thursday, August 5th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.02). CareCloud had a negative return on equity of 3.67% and a negative net margin of 2.91%. The firm had revenue of $34.07 million for the quarter, compared to analysts’ expectations of $32.04 million.

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

In related news, insider Stephen Andrew Snyder sold 7,440 shares of the firm’s stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $28.83, for a total value of $214,495.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO A Hadi Chaudhry sold 5,000 shares of the firm’s stock in a transaction on Monday, September 27th. The stock was sold at an average price of $8.19, for a total value of $40,950.00. The disclosure for this sale can be found here. Insiders sold 36,940 shares of company stock worth $471,585 in the last three months. 37.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in MTBC. Morgan Stanley grew its position in CareCloud by 157.5% in the second quarter. Morgan Stanley now owns 5,767 shares of the technology company’s stock worth $49,000 after buying an additional 3,527 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of CareCloud in the second quarter worth approximately $51,000. Goldman Sachs Group Inc. purchased a new position in shares of CareCloud during the 2nd quarter valued at $120,000. Hancock Whitney Corp increased its position in CareCloud by 47.5% in the 2nd quarter. Hancock Whitney Corp now owns 18,366 shares of the technology company’s stock worth $155,000 after purchasing an additional 5,913 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY acquired a new position in CareCloud in the second quarter worth approximately $168,000. 24.27% of the stock is currently owned by hedge funds and other institutional investors.

MTBC stock opened at $7.84 on Monday. CareCloud has a twelve month low of $7.29 and a twelve month high of $12.84. The company has a quick ratio of 1.28, a current ratio of 1.30 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $8.08 and its two-hundred day simple moving average is $8.18. The firm has a market cap of $112.90 million, a price-to-earnings ratio of -7.26 and a beta of 0.85.

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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