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

Consensus Cloud Solutions (NASDAQ:CCSI) had its target price boosted by equities researchers at Wedbush from $24.00 to $32.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 23.22% from the company’s current price.

Other research analysts have also issued research reports about the company. Oppenheimer boosted their target price on Consensus Cloud Solutions from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. downgraded Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $19.00 to $21.00 in a research report on Monday, September 9th. Finally, 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 research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.00.

Consensus Cloud Solutions Stock Performance

NASDAQ CCSI traded down $0.11 on Friday, hitting $25.97. 39,556 shares of the stock were exchanged, compared to its average volume of 237,118. Consensus Cloud Solutions has a 52-week low of $11.62 and a 52-week high of $28.09. The firm has a market capitalization of $501.14 million, a P/E ratio of 5.60 and a beta of 1.38. The stock has a fifty day moving average price of $22.37 and a two-hundred day moving average price of $19.69.

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

Institutional Investors Weigh In On Consensus Cloud Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of Consensus Cloud Solutions in the 1st quarter worth approximately $290,000. Meeder Asset Management Inc. boosted its position in Consensus Cloud Solutions by 20.0% during the 1st quarter. Meeder Asset Management Inc. now owns 14,480 shares of the company’s stock valued at $230,000 after acquiring an additional 2,414 shares in the last quarter. Heron Bay Capital Management increased its holdings in shares of Consensus Cloud Solutions by 63.7% in the 1st 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 during the period. Price T Rowe Associates Inc. MD raised its position in shares of Consensus Cloud Solutions by 15.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,994 shares of the company’s stock worth $492,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Consensus Cloud Solutions during the 1st quarter worth $262,000. 93.93% of the stock is owned by institutional investors.

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.