BTIG Research Issues Positive Forecast for Consensus Cloud Solutions (NASDAQ:CCSI) Stock Price

Consensus Cloud Solutions (NASDAQ:CCSI) had its price objective increased by BTIG Research from $37.00 to $40.00 in a research note published on Tuesday morning, Marketbeat Ratings reports. BTIG Research currently has a buy rating on the stock.

CCSI has been the topic of several other reports. Wall Street Zen raised Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Wedbush lifted their price target on shares of Consensus Cloud Solutions from $26.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Consensus Cloud Solutions in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Consensus Cloud Solutions Stock Performance

CCSI opened at $28.72 on Tuesday. The stock has a market cap of $545.97 million, a P/E ratio of 6.60 and a beta of 1.55. The company has a debt-to-equity ratio of 40.03, a current ratio of 1.79 and a quick ratio of 1.84. The firm has a fifty day moving average price of $23.05 and a 200 day moving average price of $24.79. Consensus Cloud Solutions has a 1 year low of $17.84 and a 1 year high of $30.23.

Consensus Cloud Solutions (NASDAQ:CCSI) last issued its quarterly earnings data on Monday, February 9th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.10. Consensus Cloud Solutions had a net margin of 24.17% and a negative return on equity of 579.06%. The business had revenue of $87.07 million during the quarter, compared to the consensus estimate of $86.62 million. Equities research analysts anticipate that Consensus Cloud Solutions will post 5.17 earnings per share for the current year.

Institutional Investors Weigh In On Consensus Cloud Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Consensus Cloud Solutions in the 4th quarter worth $25,000. State of Alaska Department of Revenue purchased a new position in Consensus Cloud Solutions during the fourth quarter worth about $46,000. Tower Research Capital LLC TRC raised its stake in Consensus Cloud Solutions by 40.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,978 shares of the company’s stock worth $46,000 after purchasing an additional 570 shares during the period. BNP Paribas Financial Markets raised its stake in Consensus Cloud Solutions by 104.9% during the third quarter. BNP Paribas Financial Markets now owns 3,793 shares of the company’s stock worth $111,000 after purchasing an additional 1,942 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Consensus Cloud Solutions in the 2nd quarter valued at approximately $112,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Consensus Cloud Solutions

Consensus Cloud Solutions (NASDAQ: CCSI) is a provider of cloud consulting and managed services focused on helping organizations accelerate digital transformation. The company specializes in designing, deploying and supporting cloud architectures that leverage leading public and private cloud platforms, including infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS) environments. Its end-to-end approach encompasses strategy, implementation and ongoing optimization to align technology investments with business objectives.

The firm’s core offerings include cloud migration and deployment, application modernization, data analytics and cybersecurity solutions.