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

Consensus Cloud Solutions (NASDAQ:CCSI) had its target price increased by Oppenheimer from $27.00 to $32.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 26.57% from the company’s previous close.

Several other brokerages have also commented on CCSI. Wedbush raised their price objective on shares of Consensus Cloud Solutions from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. BTIG Research upped their target price 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. Finally, Citigroup upped their price target on shares of Consensus Cloud Solutions from $19.00 to $20.00 and gave the company a “sell” rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.40.

Consensus Cloud Solutions Price Performance

CCSI stock traded down $2.75 during midday trading on Thursday, reaching $25.28. 222,138 shares of the stock were exchanged, compared to its average volume of 108,512. The company has a fifty day moving average price of $25.85 and a 200 day moving average price of $23.83. Consensus Cloud Solutions has a 52 week low of $11.62 and a 52 week high of $32.10. The stock has a market capitalization of $487.96 million, a PE ratio of 5.53 and a beta of 1.45.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its earnings results on Wednesday, February 19th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.10). The business had revenue of $86.98 million during the quarter, compared to the consensus estimate of $85.07 million. Consensus Cloud Solutions had a net margin of 25.10% and a negative return on equity of 66.28%. As a group, analysts anticipate that Consensus Cloud Solutions will post 4.86 earnings per share for the current fiscal year.

Institutional Trading of Consensus Cloud Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in Consensus Cloud Solutions in the 3rd quarter valued at approximately $29,000. GAMMA Investing LLC boosted its holdings in Consensus Cloud Solutions by 74.9% in the fourth quarter. GAMMA Investing LLC now owns 1,525 shares of the company’s stock valued at $36,000 after acquiring an additional 653 shares during the last quarter. R Squared Ltd acquired a new position in Consensus Cloud Solutions in the fourth quarter valued at $42,000. AlphaQuest LLC raised its position in Consensus Cloud Solutions by 451.5% in the fourth quarter. AlphaQuest LLC now owns 2,173 shares of the company’s stock valued at $52,000 after purchasing an additional 1,779 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Consensus Cloud Solutions in the fourth quarter valued at about $81,000. 93.93% of the stock is owned by institutional investors and hedge funds.

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.