Consensus Cloud Solutions (NASDAQ:CCSI) Price Target Raised to $27.00

Consensus Cloud Solutions (NASDAQ:CCSI) had its price target lifted by Oppenheimer from $23.00 to $27.00 in a report published on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on CCSI. BTIG Research upgraded Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. cut Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $19.00 to $21.00 in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.00.

Consensus Cloud Solutions Price Performance

CCSI stock traded down $1.03 during trading on Friday, hitting $25.05. 176,109 shares of the company traded hands, compared to its average volume of 127,914. The stock’s 50-day simple moving average is $22.43 and its 200 day simple moving average is $19.82. The company has a market cap of $483.47 million, a PE ratio of 5.33 and a beta of 1.38. Consensus Cloud Solutions has a 1 year low of $11.62 and a 1 year high of $28.09.

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

Hedge Funds Weigh In On Consensus Cloud Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC lifted its stake in shares of Consensus Cloud Solutions by 3.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 22,426 shares of the company’s stock valued at $385,000 after purchasing an additional 769 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Consensus Cloud Solutions in the 3rd quarter valued at $29,000. Rhumbline Advisers lifted its stake in shares of Consensus Cloud Solutions by 4.8% in the 2nd quarter. Rhumbline Advisers now owns 30,358 shares of the company’s stock valued at $522,000 after purchasing an additional 1,379 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of Consensus Cloud Solutions in the 2nd quarter valued at $33,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Consensus Cloud Solutions by 20.0% in the 1st quarter. Meeder Asset Management Inc. now owns 14,480 shares of the company’s stock valued at $230,000 after buying an additional 2,414 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Consensus Cloud Solutions

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.