CareCloud Forecasts FY2024 Sales Of $118M–$120M Versus Consensus Of $124.74M, With Adjusted EBITDA Of $21M-$23M
Portfolio Pulse from Benzinga Newsdesk
CareCloud projects its FY2024 sales to be between $118M and $120M, falling short of the consensus estimate of $124.74M. The company also anticipates its adjusted EBITDA to range from $21M to $23M.
March 21, 2024 | 11:16 am
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CareCloud's FY2024 sales forecast is below market expectations, which could potentially impact investor sentiment and the stock's short-term performance.
When a company's financial forecasts fall short of market consensus, it often leads to negative investor sentiment and can cause the stock price to drop in the short term. CareCloud's lower-than-expected sales forecast for FY2024 could lead to disappointment among investors, potentially resulting in a decrease in the stock price.
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IMPORTANCE 90
RELEVANCE 100