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

Consensus Cloud Solutions (NASDAQ:CCSI) had its target price lifted by analysts at Oppenheimer from $27.00 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 24.90% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Wedbush raised their target price on Consensus Cloud Solutions from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, November 8th. BTIG Research raised their price objective on Consensus Cloud Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Citigroup lifted their target price on 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 equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.40.

Consensus Cloud Solutions Stock Performance

Shares of NASDAQ CCSI opened at $25.62 on Thursday. Consensus Cloud Solutions has a 52 week low of $11.62 and a 52 week high of $32.10. The stock’s fifty day moving average is $25.89 and its 200 day moving average is $23.88. The stock has a market capitalization of $494.49 million, a P/E ratio of 5.55 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 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.10). Consensus Cloud Solutions had a net margin of 25.52% and a negative return on equity of 76.49%. The firm had revenue of $86.98 million during the quarter, compared to the consensus estimate of $85.07 million. Equities research analysts forecast that Consensus Cloud Solutions will post 5.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cerity Partners LLC increased its holdings in Consensus Cloud Solutions by 272.4% in the 3rd quarter. Cerity Partners LLC now owns 59,442 shares of the company’s stock worth $1,400,000 after purchasing an additional 43,482 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Consensus Cloud Solutions by 1.3% during the third 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. grew its holdings in shares of Consensus Cloud Solutions by 223.1% during the third quarter. JPMorgan Chase & Co. now owns 197,456 shares of the company’s stock worth $4,650,000 after purchasing an additional 136,349 shares during the last quarter. Barclays PLC increased its stake in shares of 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 4th 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 last quarter. 93.93% of the stock is currently owned by institutional investors.

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.