CareCloud (NASDAQ:CCLD) Receives Buy Rating from Benchmark

CareCloud (NASDAQ:CCLD)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $4.50 price target on the stock. Benchmark’s price objective would indicate a potential upside of 82.19% from the stock’s current price.

Other research analysts also recently issued reports about the company. Roth Mkm downgraded CareCloud from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $5.00 to $3.50 in a research note on Wednesday. Roth Capital cut shares of CareCloud from a “strong-buy” rating to a “hold” rating in a research report on Wednesday.

CareCloud Stock Performance

Shares of NASDAQ:CCLD opened at $2.47 on Friday. CareCloud has a 52-week low of $0.68 and a 52-week high of $3.88. The company has a market capitalization of $40.11 million, a P/E ratio of -0.77 and a beta of 1.37. The company has a 50-day simple moving average of $2.54 and a 200 day simple moving average of $2.38.

Hedge Funds Weigh In On CareCloud

Several institutional investors and hedge funds have recently made changes to their positions in CCLD. Renaissance Technologies LLC boosted its stake in CareCloud by 25.1% in the 2nd quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after purchasing an additional 21,500 shares during the period. Heron Bay Capital Management lifted its holdings in shares of CareCloud by 126.8% during the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock worth $66,000 after buying an additional 19,329 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of CareCloud in the third quarter valued at about $42,000. Institutional investors and hedge funds own 10.16% of the company’s stock.

CareCloud Company Profile

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.