In a report issued on February 26, Eugene Mannheimer from Colliers Securities reiterated a Buy rating on MTBC (MTBC), with a price target of $13.50. The company’s shares closed last Friday at $8.54.
According to TipRanks.com, Mannheimer is a 4-star analyst with an average return of 16.1% and a 60.3% success rate. Mannheimer covers the Technology sector, focusing on stocks such as Computer Programs and Systems, NextGen Healthcare, and Castlight Health.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for MTBC with a $16.70 average price target, which is an 88.1% 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 December 31, the company reported a quarterly revenue of $32.04 million and net profit of $154.9K. In comparison, last year the company earned revenue of $15.76 million and had a net profit of $332.2K.
Based on the recent corporate insider activity of 52 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.
