Consensus Cloud Solutions (NASDAQ:CCSI) PT Raised to $23.00

Consensus Cloud Solutions (NASDAQ:CCSI) had its price target upped by equities researchers at Oppenheimer from $20.00 to $23.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 15.75% from the company’s previous close.

Separately, Wedbush reissued an “outperform” rating and issued a $24.00 price objective on shares of Consensus Cloud Solutions in a research note on Friday, May 10th.

Consensus Cloud Solutions Stock Up 2.0 %

Shares of NASDAQ CCSI traded up $0.39 during trading on Friday, reaching $19.87. The company had a trading volume of 315,701 shares, compared to its average volume of 284,294. Consensus Cloud Solutions has a 12 month low of $11.62 and a 12 month high of $33.39. The stock has a market cap of $381.90 million, a P/E ratio of 4.39 and a beta of 1.35. The company’s fifty day moving average price is $18.61 and its 200-day moving average price is $17.13.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.30. Consensus Cloud Solutions had a net margin of 24.55% and a negative return on equity of 49.60%. The firm had revenue of $88.15 million during the quarter, compared to analyst estimates of $87.29 million. As a group, equities analysts predict that Consensus Cloud Solutions will post 4.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CCSI. National Bank of Canada FI acquired a new position in shares of Consensus Cloud Solutions during the second quarter valued at about $33,000. PNC Financial Services Group Inc. boosted its stake in Consensus Cloud Solutions by 132.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,691 shares of the company’s stock valued at $44,000 after purchasing an additional 962 shares during the last quarter. CWM LLC increased its holdings in Consensus Cloud Solutions by 388.4% during the 2nd quarter. CWM LLC now owns 8,792 shares of the company’s stock worth $151,000 after purchasing an additional 6,992 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Consensus Cloud Solutions in the second quarter worth approximately $188,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Consensus Cloud Solutions by 20.0% in the first quarter. Meeder Asset Management Inc. now owns 14,480 shares of the company’s stock valued at $230,000 after purchasing an additional 2,414 shares in the last quarter. 93.93% of the stock is 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.