Oppenheimer Increases Price Target for Consensus Cloud Solutions (NASDAQ:CCSI)

Consensus Cloud Solutions (NASDAQ:CCSI) saw its price target raised by Oppenheimer, going from $27.00 to $32.00, as detailed in a research report published on Thursday morning. Oppenheimer has assigned an "outperform" rating for the stock, suggesting confidence in its future performance.

Several other equity research analysts have also recently provided their insights regarding CCSI. For instance, BTIG Research increased its target price from $30.00 to $32.00 and assigned a "buy" rating in a report on November 11. Additionally, Wedbush raised their target price from $24.00 to $32.00, also giving the stock an "outperform" rating in a report dated November 8. On the other hand, Citigroup lifted its target from $19.00 to $20.00, but issued a "sell" rating in a report from January 17. Currently, there are two analysts with a "sell" rating and three analysts that have rated the stock as a buy. According to information from MarketBeat, the consensus rating for the company stands at "Hold," with an average target price of $27.40.

Recent Stock Performance of Consensus Cloud Solutions

As of Thursday, Consensus Cloud Solutions opened at $25.62. The stock has a 50-day moving average price of $25.89 and a 200-day moving average price of $23.91. Over the past year, the stock has seen a low of $11.62 and a high of $32.10. The company currently boasts a market capitalization of $494.49 million, a price-to-earnings ratio of 5.55, and a beta of 1.45.

The latest quarterly earnings report from Consensus Cloud Solutions was released on February 19. The company reported earnings per share (EPS) of $1.09, which fell short of analysts' consensus estimate of $1.19 by $0.10. Additionally, the company noted a negative return on equity of 83.93%, but it managed a net margin of 25.52%. Revenues for the quarter reached $86.98 million, slightly surpassing the consensus estimate of $85.07 million. Analysts are projecting that Consensus Cloud Solutions will achieve an EPS of 5.17 for the current fiscal year.

Institutional Investors and Their Recent Activities

Institutional investors have recently made adjustments to their holdings in Consensus Cloud Solutions. In the third quarter, Capital Performance Advisors LLP acquired a new position valued at $29,000. GAMMA Investing LLC increased its holdings by 74.9% in the fourth quarter and bought an additional 653 shares to reach a total of 1,525 shares, now valued at $36,000. Similarly, R Squared Ltd has also acquired a new stake during the fourth quarter, valued at $42,000. AlphaQuest LLC significantly boosted its holdings by 451.5% in the same period, owning 2,173 shares after acquiring 1,779 shares, with a total value of $52,000. Finally, Quantbot Technologies LP added a new stake worth $81,000. Currently, institutional investors and hedge funds own 93.93% of the company's stock.

Company Overview

Consensus Cloud Solutions, along with its subsidiaries, offers information delivery services through a global software-as-a-service platform. The company provides eFax Corporate, which is a digital cloud-fax technology, and Unite, a versatile platform that enables users to send and receive healthcare information through various protocols, integrating either with existing electronic health record systems or operating as a standalone if no EHR is available.

Consensus, Cloud, Solutions