Consensus Cloud Solutions (NASDAQ:CCSI) Given New $23.00 Price Target at Oppenheimer

Consensus Cloud Solutions (NASDAQ:CCSI) had its target price upped by equities researchers at Oppenheimer from $20.00 to $23.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 15.75% from the stock’s current price.

Separately, Wedbush reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of Consensus Cloud Solutions in a research report on Friday, May 10th.

Consensus Cloud Solutions Stock Up 2.0 %

Consensus Cloud Solutions stock traded up $0.39 during midday trading on Friday, reaching $19.87. The stock had a trading volume of 315,701 shares, compared to its average volume of 284,294. The firm has a market cap of $381.90 million, a price-to-earnings ratio of 4.39 and a beta of 1.35. Consensus Cloud Solutions has a 52-week low of $11.62 and a 52-week high of $33.39. The company has a fifty day moving average of $18.61 and a 200 day moving average of $17.13.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its earnings results on Wednesday, May 8th. The company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.30. Consensus Cloud Solutions had a negative return on equity of 49.60% and a net margin of 24.55%. The firm had revenue of $88.15 million for the quarter, compared to analysts’ expectations of $87.29 million. Equities research analysts predict that Consensus Cloud Solutions will post 4.51 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Heron Bay Capital Management grew its holdings in Consensus Cloud Solutions by 63.7% during the 1st quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock worth $17,453,000 after acquiring an additional 428,232 shares in the last quarter. Kent Lake Capital LLC bought a new position in shares of Consensus Cloud Solutions during the first quarter valued at approximately $2,312,000. Allspring Global Investments Holdings LLC increased its holdings in Consensus Cloud Solutions by 3,943.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 114,549 shares of the company’s stock valued at $1,817,000 after buying an additional 111,716 shares during the period. Renaissance Technologies LLC raised its stake in Consensus Cloud Solutions by 165.1% in the second quarter. Renaissance Technologies LLC now owns 116,900 shares of the company’s stock worth $2,008,000 after buying an additional 72,800 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Consensus Cloud Solutions during the second quarter worth $1,205,000. Institutional investors own 93.93% of the company’s stock.

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.