Consensus Cloud Solutions (NASDAQ:CCSI) Given New $40.00 Price Target at BTIG Research

Consensus Cloud Solutions (NASDAQ:CCSI) had its price objective increased by stock analysts at BTIG Research from $37.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 35.09% from the company’s current price.

A number of other equities research analysts have also weighed in on CCSI. Wall Street Zen upgraded Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Consensus Cloud Solutions in a research note on Wednesday, January 21st. Finally, Wedbush lifted their price target on shares of Consensus Cloud Solutions from $26.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.67.

Consensus Cloud Solutions Price Performance

CCSI opened at $29.61 on Tuesday. Consensus Cloud Solutions has a 1 year low of $17.84 and a 1 year high of $30.08. The company’s 50 day simple moving average is $22.94 and its 200 day simple moving average is $24.72. The stock has a market capitalization of $562.89 million, a PE ratio of 6.81 and a beta of 1.55. The company has a debt-to-equity ratio of 40.03, a quick ratio of 1.84 and a current ratio of 1.79.

Consensus Cloud Solutions (NASDAQ:CCSI) last announced its quarterly earnings results on Monday, February 9th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.10. The firm had revenue of $87.07 million for the quarter, compared to analysts’ expectations of $86.62 million. Consensus Cloud Solutions had a net margin of 24.17% and a negative return on equity of 579.06%. As a group, sell-side analysts expect that Consensus Cloud Solutions will post 5.17 EPS for the current year.

Institutional Investors Weigh In On Consensus Cloud Solutions

Hedge funds have recently made changes to their positions in the business. New South Capital Management Inc. boosted its position in Consensus Cloud Solutions by 38.6% during the 3rd quarter. New South Capital Management Inc. now owns 429,574 shares of the company’s stock worth $12,617,000 after acquiring an additional 119,580 shares during the period. Geode Capital Management LLC increased its holdings in shares of Consensus Cloud Solutions by 7.7% during the second quarter. Geode Capital Management LLC now owns 505,506 shares of the company’s stock valued at $11,659,000 after purchasing an additional 36,357 shares during the period. Brandywine Global Investment Management LLC raised its stake in shares of Consensus Cloud Solutions by 19.8% during the second quarter. Brandywine Global Investment Management LLC now owns 85,080 shares of the company’s stock valued at $1,962,000 after purchasing an additional 14,080 shares in the last quarter. LSV Asset Management lifted its holdings in Consensus Cloud Solutions by 14.4% in the second quarter. LSV Asset Management now owns 372,501 shares of the company’s stock worth $8,590,000 after purchasing an additional 46,793 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in Consensus Cloud Solutions in the 2nd quarter valued at about $911,000. Institutional investors own 93.93% of the company’s stock.

Consensus Cloud Solutions Company Profile

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.