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

by · The Markets Daily

Consensus Cloud Solutions (NASDAQ:CCSI – Free Report) had its price objective raised by Wedbush from $24.00 to $32.00 in a report published on Friday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. downgraded Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $19.00 to $21.00 in a report on Monday, September 9th. BTIG Research upgraded shares of Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, August 21st. Finally, Oppenheimer increased their price objective on shares of Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Get Our Latest Analysis on Consensus Cloud Solutions

Consensus Cloud Solutions Price Performance

NASDAQ:CCSI traded down $1.03 during trading hours on Friday, hitting $25.05. 176,109 shares of the company were exchanged, compared to its average volume of 237,747. The stock has a market capitalization of $483.39 million, a price-to-earnings ratio of 5.33 and a beta of 1.38. Consensus Cloud Solutions has a 52-week low of $11.62 and a 52-week high of $28.09. The company’s 50 day moving average price is $22.43 and its 200-day moving average price is $19.82.

Consensus Cloud Solutions (NASDAQ:CCSI – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.15. Consensus Cloud Solutions had a negative return on equity of 57.77% and a net margin of 25.72%. The firm had revenue of $87.50 million for the quarter, compared to the consensus estimate of $87.10 million. On average, equities analysts predict that Consensus Cloud Solutions will post 4.86 earnings per share for the current year.

Institutional Investors Weigh In On Consensus Cloud Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Consensus Cloud Solutions during the 3rd quarter valued at about $29,000. National Bank of Canada FI acquired a new stake in Consensus Cloud Solutions in the second quarter valued at approximately $33,000. SG Americas Securities LLC purchased a new stake in shares of Consensus Cloud Solutions in the third quarter valued at approximately $148,000. CWM LLC increased its position in shares of Consensus Cloud Solutions by 388.4% in the second quarter. CWM LLC now owns 8,792 shares of the company’s stock valued at $151,000 after buying an additional 6,992 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Consensus Cloud Solutions during the 2nd quarter worth approximately $188,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Consensus Cloud Solutions

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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.

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