Stifel Nicolaus Cuts Clarivate (NYSE:CLVT) Price Target to $5.00

Clarivate (NYSE:CLVT) had its price objective lowered by Stifel Nicolaus from $6.00 to $5.00 in a research report released on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded Clarivate from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Barclays decreased their target price on Clarivate from $2.50 to $2.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $3.02.

Clarivate Stock Down 0.2%

Shares of NYSE CLVT opened at $2.00 on Thursday. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -3.86 and a beta of 1.38. The company’s 50-day simple moving average is $2.27 and its 200-day simple moving average is $2.42. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. Clarivate has a 52-week low of $1.66 and a 52-week high of $4.55.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $587.30 million during the quarter, compared to the consensus estimate of $589.73 million. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. Equities analysts predict that Clarivate will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLVT. FIL Ltd increased its holdings in shares of Clarivate by 2.3% in the fourth quarter. FIL Ltd now owns 25,266,152 shares of the company’s stock valued at $84,389,000 after purchasing an additional 567,170 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Clarivate by 3.3% during the third quarter. Dimensional Fund Advisors LP now owns 21,768,783 shares of the company’s stock worth $83,373,000 after buying an additional 696,903 shares in the last quarter. Atairos Partners GP Inc. boosted its stake in Clarivate by 195.3% during the fourth quarter. Atairos Partners GP Inc. now owns 10,232,667 shares of the company’s stock worth $34,177,000 after buying an additional 6,767,667 shares during the last quarter. Invenomic Capital Management LP boosted its stake in Clarivate by 3.8% during the fourth quarter. Invenomic Capital Management LP now owns 9,029,414 shares of the company’s stock worth $30,158,000 after buying an additional 326,369 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Clarivate by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,922,585 shares of the company’s stock valued at $34,173,000 after buying an additional 756,722 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Company Profile

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.