Consensus Cloud price target lowered to $26 from $32 at Wedbush

Wedbush analyst Daniel Ives lowered the firm’s price target on Consensus Cloud (CCSI) to $26 from $32 and keeps an Outperform rating on the shares. The firm notes the company reported its Q1 results featuring a bottom-line beat, while meeting Street expectations on the top-line as the company looks to accelerate its rebound across both SoHo and Corporate verticals while continuing to optimize its cost structure within its business despite the difficult macro backdrop.