CCSI - Consensus Cloud Solutions: Remain Hold Rated Given The Weak Operating Environment
2024-05-30 22:57:42 ET
Summary
- Consensus Cloud Solutions stock has fallen from $37 to $20, and the fundamental outlook does not justify a buy rating.
- The near-term outlook remains uncertain due to the weak operating environment, which will continue to impact CCSI's growth.
- Encouraging developments include growing demand for non-fax products, record growth in the corporate segment, and a revenue-accretive partnership. However, the macro environment remains a hurdle.
Summary
Following my coverage of Consensus Cloud Solutions ( CCSI ) in Jun’23, which I recommended a neutral rating as there were a lot of uncertainties in the business, driven by the weak macro environment, this post is to provide an update on my thoughts on the business and stock....
Consensus Cloud Solutions: Remain Hold Rated Given The Weak Operating Environment