Citigroup Issues Positive Forecast for Consensus Cloud Solutions (NASDAQ:CCSI) Stock Price

Consensus Cloud Solutions (NASDAQ:CCSI) had its price objective lifted by equities research analysts at Citigroup from $17.00 to $19.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. Citigroup’s price objective indicates a potential downside of 22.70% from the stock’s previous close.

A number of other brokerages have also issued reports on CCSI. BTIG Research raised their price target on shares of Consensus Cloud Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Oppenheimer upped their target price on shares of Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Wedbush lifted their price target on Consensus Cloud Solutions from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. cut shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and upped their target price for the company 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Consensus Cloud Solutions has a consensus rating of “Hold” and a consensus price target of $26.20.

Consensus Cloud Solutions Stock Down 2.5 %

NASDAQ:CCSI traded down $0.64 during mid-day trading on Tuesday, hitting $24.58. 58,003 shares of the stock traded hands, compared to its average volume of 234,107. Consensus Cloud Solutions has a 12-month low of $11.62 and a 12-month high of $28.09. The business’s 50-day moving average price is $22.71 and its 200 day moving average price is $20.48. The company has a market cap of $474.39 million, a PE ratio of 5.38 and a beta of 1.38.

Institutional Trading of Consensus Cloud Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC grew its holdings in Consensus Cloud Solutions by 3.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 22,426 shares of the company’s stock valued at $385,000 after buying an additional 769 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Consensus Cloud Solutions during the third quarter valued at $29,000. Rhumbline Advisers increased its holdings in 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 acquiring an additional 1,379 shares during the last quarter. National Bank of Canada FI purchased a new stake in Consensus Cloud Solutions in the 2nd quarter worth $33,000. Finally, Sei Investments Co. boosted its holdings in shares of Consensus Cloud Solutions by 18.5% during the 2nd quarter. Sei Investments Co. now owns 17,594 shares of the company’s stock valued at $302,000 after purchasing an additional 2,751 shares during the last quarter. Institutional investors 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.