Consensus Cloud Solutions (NASDAQ:CCSI) Price Target Cut to $20.00 by Analysts at Oppenheimer

Consensus Cloud Solutions (NASDAQ:CCSI) had its target price lowered by equities research analysts at Oppenheimer from $29.00 to $20.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 8.87% from the company’s previous close.

Separately, BTIG Research assumed coverage on Consensus Cloud Solutions in a report on Friday, January 26th. They set a “neutral” rating on the stock.

Consensus Cloud Solutions Stock Up 38.9 %

Shares of NASDAQ:CCSI traded up $5.14 during mid-day trading on Thursday, reaching $18.37. 681,876 shares of the stock were exchanged, compared to its average volume of 340,189. The stock’s 50 day simple moving average is $13.78 and its 200-day simple moving average is $18.95. Consensus Cloud Solutions has a one year low of $11.62 and a one year high of $38.11. The company has a market cap of $353.07 million, a P/E ratio of 4.65 and a beta of 1.07.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its earnings results on Wednesday, February 21st. The company reported $0.90 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.90. Consensus Cloud Solutions had a net margin of 21.32% and a negative return on equity of 40.27%. The business had revenue of $87.75 million during the quarter, compared to the consensus estimate of $89.05 million. Analysts anticipate that Consensus Cloud Solutions will post 4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Consensus Cloud Solutions

Several institutional investors and hedge funds have recently modified their holdings of CCSI. Meeder Asset Management Inc. grew its stake in Consensus Cloud Solutions by 20.0% during the first quarter. Meeder Asset Management Inc. now owns 14,480 shares of the company’s stock worth $230,000 after buying an additional 2,414 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Consensus Cloud Solutions during the 1st quarter worth approximately $290,000. GSA Capital Partners LLP increased its stake in Consensus Cloud Solutions by 323.3% in the first quarter. GSA Capital Partners LLP now owns 60,564 shares of the company’s stock valued at $961,000 after acquiring an additional 46,255 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position 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 purchasing an additional 111,716 shares in the last quarter. Finally, Bridge City Capital LLC lifted its stake in Consensus Cloud Solutions by 2.2% during the first quarter. Bridge City Capital LLC now owns 57,577 shares of the company’s stock worth $913,000 after purchasing an additional 1,245 shares during the last quarter. 93.93% of the stock is currently 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.