Wedbush Forecasts Strong Price Appreciation for Consensus Cloud Solutions (NASDAQ:CCSI) Stock

Consensus Cloud Solutions (NASDAQ:CCSI) had its price target upped by Wedbush from $24.00 to $32.00 in a report issued on Friday,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $19.00 to $21.00 in a report on Monday, September 9th. Oppenheimer increased their price target 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. Finally, BTIG Research raised shares of Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat, Consensus Cloud Solutions presently has a consensus rating of “Hold” and a consensus target price of $26.40.

Consensus Cloud Solutions Stock Performance

CCSI stock opened at $25.34 on Friday. Consensus Cloud Solutions has a one year low of $11.62 and a one year high of $28.09. The stock has a market capitalization of $488.99 million, a P/E ratio of 5.54 and a beta of 1.38. The company has a 50 day moving average price of $22.43 and a two-hundred day moving average price of $19.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of Consensus Cloud Solutions in the third quarter worth $29,000. National Bank of Canada FI acquired a new stake in Consensus Cloud Solutions in the 2nd quarter valued at $33,000. SG Americas Securities LLC purchased a new position in Consensus Cloud Solutions in the third quarter valued at about $148,000. CWM LLC lifted its stake in shares of Consensus Cloud Solutions by 388.4% during the second 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. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Consensus Cloud Solutions in the second quarter worth about $188,000. 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.