Consensus Cloud Solutions (NASDAQ:CCSI) Stock Price Expected to Rise, Oppenheimer Analyst Says

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

A number of other equities research analysts have also recently weighed in on CCSI. BTIG Research upped their price objective 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. Wedbush raised their target price 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. Finally, Citigroup raised their price objective on shares of Consensus Cloud Solutions from $19.00 to $20.00 and gave the company a “sell” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.40.

Consensus Cloud Solutions Stock Performance

CCSI stock traded down $2.75 during midday trading on Thursday, reaching $25.28. 222,138 shares of the company’s stock traded hands, compared to its average volume of 108,512. The company has a 50-day moving average price of $25.85 and a two-hundred day moving average price of $23.83. The firm has a market capitalization of $487.96 million, a PE ratio of 5.53 and a beta of 1.45. Consensus Cloud Solutions has a 52 week low of $11.62 and a 52 week high of $32.10.

Consensus Cloud Solutions (NASDAQ:CCSI) last posted its quarterly 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 for the quarter, compared to analysts’ expectations 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 predict that Consensus Cloud Solutions will post 4.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Consensus Cloud Solutions

A number of institutional investors have recently made changes to their positions in CCSI. Cerity Partners LLC grew its holdings in Consensus Cloud Solutions by 272.4% during the 3rd quarter. Cerity Partners LLC now owns 59,442 shares of the company’s stock worth $1,400,000 after acquiring an additional 43,482 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Consensus Cloud Solutions by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 421,123 shares of the company’s stock valued at $9,920,000 after purchasing an additional 5,299 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Consensus Cloud Solutions by 223.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 197,456 shares of the company’s stock worth $4,650,000 after acquiring an additional 136,349 shares during the period. Barclays PLC raised its holdings in Consensus Cloud Solutions by 275.8% in the third quarter. Barclays PLC now owns 23,618 shares of the company’s stock valued at $556,000 after buying an additional 17,333 shares during the period. Finally, Integrated Investment Consultants LLC raised its holdings in Consensus Cloud Solutions by 9.3% in the fourth quarter. Integrated Investment Consultants LLC now owns 170,306 shares of the company’s stock valued at $4,064,000 after buying an additional 14,449 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.