Wedbush Forecasts Strong Price Appreciation for Consensus Cloud Solutions (NASDAQ:CCSI) Stock

Consensus Cloud Solutions (NASDAQ:CCSI) had its target price upped by stock analysts at Wedbush from $24.00 to $32.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 27.74% from the company’s current price.

Several other equities analysts also recently weighed in on CCSI. JPMorgan Chase & Co. downgraded Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and raised their target price for the company from $19.00 to $21.00 in a research report on Monday, September 9th. BTIG Research upgraded Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Wednesday, August 21st. Finally, 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 report on Friday. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.00.

Consensus Cloud Solutions Stock Down 3.9 %

CCSI opened at $25.05 on Friday. The firm’s fifty day simple moving average is $22.43 and its two-hundred day simple moving average is $19.82. Consensus Cloud Solutions has a 52-week low of $11.62 and a 52-week high of $28.09. The company has a market cap of $483.47 million, a price-to-earnings ratio of 5.33 and a beta of 1.38.

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

Hedge Funds Weigh In On Consensus Cloud Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in shares of Consensus Cloud Solutions by 1.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,587,963 shares of the company’s stock worth $25,185,000 after acquiring an additional 15,871 shares during the period. Heron Bay Capital Management increased its position in Consensus Cloud Solutions by 63.7% during the first quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock worth $17,453,000 after purchasing an additional 428,232 shares during the last quarter. Marshall Wace LLP raised its stake in Consensus Cloud Solutions by 437.2% during the second quarter. Marshall Wace LLP now owns 682,669 shares of the company’s stock worth $11,728,000 after purchasing an additional 555,584 shares during the period. AQR Capital Management LLC boosted its holdings in Consensus Cloud Solutions by 115.4% in the 2nd quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock valued at $11,041,000 after purchasing an additional 360,476 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew its stake in shares of Consensus Cloud Solutions by 7.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 217,086 shares of the company’s stock valued at $5,112,000 after buying an additional 14,406 shares during the period. Institutional investors and hedge funds 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.