Consensus Cloud Solutions (NASDAQ:CCSI) Price Target Raised to $32.00 at Wedbush

Consensus Cloud Solutions (NASDAQ:CCSI - Free Report) had its price objective raised by Wedbush from $24.00 to $32.00 in a report released on Friday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on CCSI. 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 report on Wednesday, August 21st. Oppenheimer raised their target price on shares of Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, JPMorgan Chase & Co. cut shares of Consensus Cloud Solutions from a "neutral" rating to an "underweight" rating and increased their price target for the stock from $19.00 to $21.00 in a research note on Monday, September 9th. Two equities research 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 company presently has a consensus rating of "Hold" and an average price target of $26.00.

Consensus Cloud Solutions Trading Down 3.9 %

NASDAQ:CCSI traded down $1.03 during trading hours on Friday, hitting $25.05. The company's stock had a trading volume of 176,107 shares, compared to its average volume of 237,747. The stock has a fifty day moving average of $22.43 and a 200-day moving average of $19.82. The stock has a market capitalization of $483.39 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 - Get Free Report) last posted 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. Consensus Cloud Solutions had a negative return on equity of 57.77% and a net margin of 25.72%. The firm had revenue of $87.50 million during the quarter, compared to analysts' expectations of $87.10 million. On average, sell-side analysts forecast that Consensus Cloud Solutions will post 4.86 earnings per share for the current year.

Hedge Funds Weigh In On Consensus Cloud Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in CCSI. Marshall Wace LLP increased its stake in shares of Consensus Cloud Solutions by 437.2% during the 2nd 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 in the last quarter. Heron Bay Capital Management boosted its stake in shares of 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 worth $17,453,000 after purchasing an additional 428,232 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Consensus Cloud Solutions by 115.4% during the second quarter. AQR Capital Management LLC now owns 672,803 shares of the company's stock valued at $11,041,000 after buying an additional 360,476 shares during the period. Kent Lake Capital LLC purchased a new stake in Consensus Cloud Solutions in the 1st quarter worth approximately $2,312,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Consensus Cloud Solutions by 165.1% during the 2nd quarter. Renaissance Technologies LLC now owns 116,900 shares of the company's stock worth $2,008,000 after purchasing an additional 72,800 shares during the period. 93.93% of the stock is 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.