Maxim analyst Allen Klee upgraded CareCloud to Buy from Hold with a $3 price target after its Q4 earnings beat and FY24 guidance. The management’s increased cost-cutting measures should improve free cash flows by $18M, while the company’s revenue drivers include growth in Wellness and medSR, along with new AI products, the analyst tells investors in a research note. Maxim adds that CareCloud currently trades at 7.1-times expected 2025 EBITDA – a deep discount vs. the peer group average of 15.6-times.
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