CareCloud price target raised to $2.25 from $1.50 at Roth Capital

Roth Capital raised the firm’s price target on CareCloud (CCLD) to $2.25 from $1.50 and keeps a Neutral rating on the shares. The company’s Q1 results were fair, with revenues and adjusted EBITDA both ahead of Roth’s forecasts, but largely due to a one-time services surge, the analyst tells investors in a research note. The firm noted that its near-term revenue forecasts have been “trimmed moderately,” and that a large hiring initiative in overseas AI talent is increasing cash expenses. Overall, stabilizing operations is a positive new development, the analyst adds, noting that the firm is “rewarding” that with a higher target.