Oppenheimer Increases Consensus Cloud Solutions (NASDAQ:CCSI) Price Target to $27.00

Consensus Cloud Solutions (NASDAQ:CCSI) had its target price raised by Oppenheimer from $23.00 to $27.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 7.78% from the company’s previous close.

A number of other equities research analysts have also weighed in on CCSI. JPMorgan Chase & Co. lowered shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $19.00 to $21.00 in a report on Monday, September 9th. BTIG Research raised shares of Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Consensus Cloud Solutions has an average rating of “Hold” and a consensus price target of $26.00.

Consensus Cloud Solutions Stock Performance

Shares of CCSI stock opened at $25.05 on Friday. The stock has a 50 day moving average price of $22.43 and a 200 day moving average price of $19.82. The firm has a market capitalization of $483.47 million, a P/E ratio of 5.33 and a beta of 1.38. Consensus Cloud Solutions has a 52-week low of $11.62 and a 52-week high of $28.09.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its earnings results on Thursday, August 8th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.15. The business had revenue of $87.50 million during the quarter, compared to the consensus estimate of $87.10 million. Consensus Cloud Solutions had a negative return on equity of 57.77% and a net margin of 25.72%. As a group, sell-side analysts forecast that Consensus Cloud Solutions will post 4.86 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in shares of Consensus Cloud Solutions in the 1st quarter worth approximately $290,000. Meeder Asset Management Inc. lifted its holdings 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 during the period. Heron Bay Capital Management boosted its position 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 valued at $17,453,000 after acquiring an additional 428,232 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Consensus Cloud Solutions by 15.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,994 shares of the company’s stock valued at $492,000 after acquiring an additional 4,100 shares during the period. Finally, Paloma Partners Management Co bought a new position in shares of Consensus Cloud Solutions in the 1st quarter worth $262,000. 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.