Research Analysts Offer Predictions for Clearwater Analytics Holdings, Inc.’s Q2 2024 Earnings (NYSE:CWAN)

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) – Research analysts at William Blair lifted their Q2 2024 earnings per share (EPS) estimates for shares of Clearwater Analytics in a research report issued to clients and investors on Thursday, May 2nd. William Blair analyst D. Becker now anticipates that the company will post earnings per share of $0.04 for the quarter, up from their prior estimate of $0.03. The consensus estimate for Clearwater Analytics’ current full-year earnings is $0.11 per share. William Blair also issued estimates for Clearwater Analytics’ Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.06 EPS, Q1 2025 earnings at $0.06 EPS, Q2 2025 earnings at $0.06 EPS, Q3 2025 earnings at $0.07 EPS, Q4 2025 earnings at $0.08 EPS and FY2025 earnings at $0.25 EPS.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The company had revenue of $102.70 million for the quarter, compared to analysts’ expectations of $100.55 million. During the same quarter in the previous year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 21.4% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company lowered their target price on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lowered their target price on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $19.00 price target on shares of Clearwater Analytics in a research note on Thursday, May 2nd. Piper Sandler reissued a “neutral” rating and issued a $20.00 price target on shares of Clearwater Analytics in a research note on Thursday, February 29th. Finally, DA Davidson reissued a “buy” rating and issued a $24.00 price target on shares of Clearwater Analytics in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.70.

Clearwater Analytics Trading Down 1.2 %

NYSE:CWAN opened at $17.46 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.59 and a quick ratio of 5.59. Clearwater Analytics has a fifty-two week low of $14.43 and a fifty-two week high of $21.89. The stock’s 50-day moving average is $16.96 and its two-hundred day moving average is $18.65. The stock has a market cap of $4.27 billion, a PE ratio of -218.25, a price-to-earnings-growth ratio of 7.85 and a beta of 0.50.

Insider Buying and Selling

In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $16.90, for a total value of $274,625,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $19.74, for a total value of $987,000.00. Following the completion of the sale, the chief executive officer now directly owns 270,838 shares in the company, valued at approximately $5,346,342.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $16.90, for a total value of $274,625,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,310,000 shares of company stock worth $275,809,400. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Wasatch Advisors LP lifted its holdings in shares of Clearwater Analytics by 35.6% during the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after buying an additional 4,304,286 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Clearwater Analytics by 36.6% during the fourth quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock worth $258,628,000 after buying an additional 3,461,158 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Clearwater Analytics by 1.2% during the first quarter. Conestoga Capital Advisors LLC now owns 6,506,247 shares of the company’s stock worth $115,096,000 after buying an additional 79,880 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Clearwater Analytics by 0.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,933,075 shares of the company’s stock valued at $114,746,000 after purchasing an additional 30,771 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Clearwater Analytics by 28.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock valued at $77,126,000 after purchasing an additional 971,920 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

About Clearwater Analytics

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.