Consensus Cloud Solutions price target lowered to $30 from $42 at Wedbush

Wedbush lowered the firm’s price target on Consensus Cloud Solutions to $30 from $42 and keeps an Outperform rating on the shares. Consensus Cloud Solutions reported Q3 earnings that featured a miss on the top-line with a significant bottom-line beat as the company navigates around continued slower decision making and a slower ramp of larger customers as a result of a more difficult macro, the analyst tells investors in a research note. The company also lowered its FY23 guidance across the board with the anticipation of persistent headwinds within the healthcare market while expecting inflation and a tight labor market to impact growth, the firm notes.