Consensus Cloud Solutions (NASDAQ:CCSI) Price Target Raised to $32.00 at Wedbush

Consensus Cloud Solutions (NASDAQ:CCSI) had its price target upped by Wedbush from $24.00 to $32.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the stock.

CCSI has been the subject of a number of other reports. JPMorgan Chase & Co. downgraded Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $19.00 to $21.00 in a research report on Monday, September 9th. Oppenheimer lifted their price target on shares of Consensus Cloud Solutions from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday. Finally, BTIG Research upgraded shares of Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.00.

Consensus Cloud Solutions Stock Performance

Shares of CCSI stock traded down $1.03 on Friday, hitting $25.05. 176,109 shares of the stock traded hands, compared to its average volume of 237,747. Consensus Cloud Solutions has a twelve month low of $11.62 and a twelve month high of $28.09. The stock has a market capitalization of $483.39 million, a PE ratio of 5.33 and a beta of 1.38. The firm’s 50-day moving average price is $22.43 and its two-hundred day moving average price is $19.82.

Consensus Cloud Solutions (NASDAQ:CCSI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.15. The business had revenue of $87.50 million during the quarter, compared to the consensus estimate of $87.10 million. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. On average, equities research analysts anticipate that Consensus Cloud Solutions will post 4.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Marshall Wace LLP boosted its position in Consensus Cloud Solutions by 437.2% in the 2nd quarter. Marshall Wace LLP now owns 682,669 shares of the company’s stock valued at $11,728,000 after buying an additional 555,584 shares during the period. Heron Bay Capital Management grew its stake in Consensus Cloud Solutions by 63.7% during the 1st quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock worth $17,453,000 after purchasing an additional 428,232 shares in the last quarter. AQR Capital Management LLC increased its holdings in Consensus Cloud Solutions by 115.4% during the 2nd quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock worth $11,041,000 after purchasing an additional 360,476 shares during the period. Kent Lake Capital LLC acquired a new stake in Consensus Cloud Solutions in the 1st quarter valued at about $2,312,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Consensus Cloud Solutions by 165.1% in the 2nd quarter. Renaissance Technologies LLC now owns 116,900 shares of the company’s stock valued at $2,008,000 after buying an additional 72,800 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Consensus Cloud Solutions Company Profile

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.