Consensus Cloud Solutions (NASDAQ:CCSI) Shares Gap Up After Analyst Upgrade

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) shares gapped up before the market opened on Friday after Wedbush raised their price target on the stock from $24.00 to $32.00. The stock had previously closed at $26.08, but opened at $27.77. Wedbush currently has an outperform rating on the stock. Consensus Cloud Solutions shares last traded at $25.95, with a volume of 48,048 shares.

Several other equities research analysts have also recently issued reports on the stock. Oppenheimer lifted 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 note on Friday. BTIG Research raised shares of Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. cut shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $19.00 to $21.00 in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Consensus Cloud Solutions presently has an average rating of “Hold” and an average target price of $26.00.

Hedge Funds Weigh In On Consensus Cloud Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its holdings in shares of Consensus Cloud Solutions by 6.2% in the third quarter. GSA Capital Partners LLP now owns 56,999 shares of the company’s stock valued at $1,342,000 after acquiring an additional 3,339 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Consensus Cloud Solutions in the third quarter valued at approximately $29,000. Rice Hall James & Associates LLC boosted its holdings in shares of Consensus Cloud Solutions by 7.1% in the third quarter. Rice Hall James & Associates LLC now owns 217,086 shares of the company’s stock valued at $5,112,000 after acquiring an additional 14,406 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Consensus Cloud Solutions in the third quarter valued at approximately $242,000. Finally, Greenleaf Trust acquired a new stake in shares of Consensus Cloud Solutions in the third quarter valued at approximately $1,634,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Consensus Cloud Solutions Stock Down 3.9 %

The company has a fifty day moving average price of $22.43 and a two-hundred day moving average price of $19.82. The firm has a market capitalization of $483.39 million, a price-to-earnings ratio of 5.33 and a beta of 1.38.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.26 EPS 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 business had revenue of $87.50 million during the quarter, compared to analysts’ expectations of $87.10 million. On average, equities analysts anticipate that Consensus Cloud Solutions, Inc. will post 4.86 earnings per share for the current fiscal year.

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.