Consensus Cloud Solutions (NASDAQ:CCSI) Given New $32.00 Price Target at Wedbush

Consensus Cloud Solutions (NASDAQ:CCSI) had its target price raised by investment analysts at Wedbush from $24.00 to $32.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 27.74% from the company’s previous close.

Other research analysts have also issued reports about the company. Oppenheimer raised their price target on Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday. BTIG Research upgraded Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. lowered shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $19.00 to $21.00 in a research note 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.00.

Consensus Cloud Solutions Price Performance

Shares of CCSI stock opened at $25.05 on Friday. Consensus Cloud Solutions has a 1-year low of $11.62 and a 1-year high of $28.09. The firm has a market cap of $483.47 million, a PE ratio of 5.33 and a beta of 1.38. The company has a 50-day moving average of $22.43 and a two-hundred day moving average of $19.82.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP raised 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 purchasing an additional 555,584 shares in the last quarter. Heron Bay Capital Management raised its holdings in Consensus Cloud Solutions by 63.7% in the first quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock valued at $17,453,000 after acquiring an additional 428,232 shares in the last quarter. AQR Capital Management LLC lifted its stake in Consensus Cloud Solutions by 115.4% in the second quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock worth $11,041,000 after acquiring an additional 360,476 shares during the last quarter. Kent Lake Capital LLC acquired a new position in Consensus Cloud Solutions during the 1st quarter worth approximately $2,312,000. Finally, Renaissance Technologies LLC increased its position 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 purchasing an additional 72,800 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.