Brokerages Set Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Target Price at $25.67

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $25.67.

Several equities analysts recently weighed in on CWAN shares. Royal Bank of Canada increased their target price on Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Piper Sandler reissued a “neutral” rating and issued a $23.00 target price on shares of Clearwater Analytics in a research report on Monday, September 9th. Morgan Stanley upped their price target on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Citigroup started coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $26.30 on Wednesday. The stock has a market capitalization of $6.46 billion, a P/E ratio of -328.75, a P/E/G ratio of 9.16 and a beta of 0.62. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $27.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. The firm’s 50-day moving average is $25.09 and its two-hundred day moving average is $21.22.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The firm had revenue of $106.79 million during the quarter, compared to analysts’ expectations of $105.51 million. During the same period in the previous year, the company earned ($0.03) EPS. Clearwater Analytics’s revenue for the quarter was up 18.8% on a year-over-year basis. Equities analysts predict that Clearwater Analytics will post 0.14 earnings per share for the current year.

Insider Activity at Clearwater Analytics

In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction on Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James S. Cox sold 14,850 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.02, for a total transaction of $326,997.00. Following the completion of the transaction, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at approximately $5,119,716.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,879,543 shares of company stock worth $247,145,339. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

A number of institutional investors have recently made changes to their positions in CWAN. Financial Management Professionals Inc. bought a new stake in shares of Clearwater Analytics in the third quarter worth $58,000. Zweig DiMenna Associates LLC bought a new stake in shares of Clearwater Analytics in the 3rd quarter worth about $4,941,000. Moody Aldrich Partners LLC acquired a new stake in shares of Clearwater Analytics in the 3rd quarter valued at about $7,372,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Clearwater Analytics during the third quarter worth about $45,000. Finally, Raymond James & Associates grew its stake in Clearwater Analytics by 1.5% in the third quarter. Raymond James & Associates now owns 658,579 shares of the company’s stock worth $16,629,000 after purchasing an additional 9,976 shares in the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Company Profile

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.