John Daly, a director at CareCloud, Inc. (NASDAQ:CCLD), has recently sold 5,000 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The healthcare technology company, currently valued at approximately $59 million, has shown remarkable performance with a 141% return over the past year. According to InvestingPro analysis, the stock is trading near its Fair Value. The transaction, dated December 31, 2024, was executed at a price of $3.87 per share, amounting to a total value of $19,350. Following this sale, Daly retains ownership of 61,750 shares in the company. InvestingPro subscribers have access to 12 additional key insights about CCLD, including detailed analysis of its financial health, which is currently rated as GREAT with an overall score of 3.16.
In other recent news, healthcare technology provider CareCloud has seen a downgrade from Roth/MKM, moving from a Buy to Neutral rating due to projections for weak growth in 2025. Despite recent cost-cutting measures, the company's growth outlook remains unimpressive, leading to a reduction in revenue forecasts. This comes in spite of a third-quarter revenue of $28.5 million, which met analyst expectations, and an increase in the company's adjusted EBITDA to $6.8 million.
CareCloud's third-quarter earnings report also revealed a slight dip in revenue, down to $28.5 million from $29.3 million the previous year. However, the company's adjusted EBITDA saw a significant year-over-year rise to $6.8 million, and free cash flow improved drastically, reaching $10.3 million.
The company has fully repaid its credit line and announced plans to resume dividend payments in March 2025. CareCloud also reported a positive GAAP net income of $3.1 million, up from a loss of $2.7 million in Q3 2023. These are the recent developments shaping the company's trajectory.
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