John Daly, CEO of CareCloud, Inc. (NASDAQ: CCLD ), recently sold 5,000 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The health technology company, currently valued at around $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, on December 31, 2024, was executed at a price of 3.87 shares per share, with a total value of $19,350. Following the sale, Daly retains ownership of 61,750 shares in the company. InvestingPro subscribers can access 12 additional important insights about CCLD, including a detailed analysis of its financial health, which is currently considered GREAT with an overall score of 3.16.
In other recent news, healthcare technology provider CareCloud saw a Roth/MKM downgrade, from a Buy to a Neutral rating due to weak growth forecasts through 2025. Despite recent cost-cutting measures, the company's growth outlook remains uncertain, leading to reduced revenue forecasts. This comes despite 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, to $28.5 million from $29.3 million a year ago. However, the company's adjusted EBITDA saw a significant year-over-year increase to $6.8 million, and free cash flow improved significantly, reaching $10.3 million.
The company has fully repaid its line of credit and announced plans to resume paying dividends by March 2025. CareCloud also reported GAAP revenue of $3.1 million, up from a loss of $2.7 million in Q3 2023. These are the latest developments. which shapes the company's way.
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