B.Riley Financial Maintains Their Buy Rating on MTBC (MTBC)


In a report issued on February 26, Marc Wiesenberger from B.Riley Financial maintained a Buy rating on MTBC (MTBC), with a price target of $20.00. The company’s shares closed last Monday at $9.99.

According to TipRanks.com, Wiesenberger is a 5-star analyst with an average return of 61.8% and a 76.7% success rate. Wiesenberger covers the Technology sector, focusing on stocks such as Lightpath Technologies, Insight Enterprises, and PCTEL.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for MTBC with a $17.50 average price target, which is a 77.7% upside from current levels. In a report issued on February 18, H.C. Wainwright also reiterated a Buy rating on the stock with a $14.00 price target.

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Based on MTBC’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $31.64 million and GAAP net loss of $1.67 million. In comparison, last year the company earned revenue of $16.85 million and had a GAAP net loss of $137.5K.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MTBC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

MTBC, Inc. is a healthcare information technology company, which engages in the provision of web-based solutions and business services to healthcare providers. It operates through the Healthcare Information Technology (IT) and Practice Management segments. The Healthcare IT segment includes revenue cycle management and other services. The Practice management segment involves in the management of three medical practices. The company was founded by Mahmud Ul Haq on September 28, 2001 and is headquartered in Somerset, NJ.

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