MTBC (MTBC) Received its Third Buy in a Row

After Roth Capital and B.Riley Financial gave MTBC (NASDAQ: MTBC) a Buy rating last month, the company received another Buy, this time from Maxim Group. Analyst Allen Klee reiterated a Buy rating on MTBC yesterday and set a price target of $20.00. The company’s shares closed last Thursday at $8.60.

According to, Klee is ranked 0 out of 5 stars with an average return of -10.3% and a 26.0% success rate. Klee covers the Technology sector, focusing on stocks such as Digital Turbine, Mitek Systems, and Agilysys.

Currently, the analyst consensus on MTBC is a Strong Buy with an average price target of $16.70, implying a 99.5% upside from current levels. In a report released today, Colliers Securities also reiterated a Buy rating on the stock with a $13.50 price target.

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MTBC’s market cap is currently $128.3M and has a P/E ratio of -5.10. The company has a Price to Book ratio of 5.84.

Based on the recent corporate insider activity of 56 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.

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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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