Clearwater Analytics (NYSE:CWAN) Price Target Raised to $20.00 at Royal Bank of Canada

Clearwater Analytics (NYSE:CWANGet Rating) had its price target boosted by Royal Bank of Canada from $16.00 to $20.00 in a research report sent to investors on Monday morning, The Fly reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. DA Davidson decreased their target price on Clearwater Analytics to $20.00 in a research note on Tuesday, August 9th. Morgan Stanley lowered their price objective on shares of Clearwater Analytics from $21.00 to $14.00 and set an equal weight rating for the company in a research note on Wednesday, July 27th. Piper Sandler raised their price target on shares of Clearwater Analytics from $14.00 to $16.00 and gave the company a neutral rating in a research report on Friday, September 9th. The Goldman Sachs Group lowered Clearwater Analytics from a neutral rating to a sell rating in a research report on Wednesday, July 13th. Finally, Wells Fargo & Company reduced their price objective on Clearwater Analytics from $22.00 to $16.00 and set an overweight rating on the stock in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Clearwater Analytics presently has an average rating of Moderate Buy and a consensus target price of $19.90.

Clearwater Analytics Stock Down 2.5 %

Shares of NYSE:CWAN opened at $15.85 on Monday. The company has a market capitalization of $3.77 billion and a price-to-earnings ratio of -264.12. Clearwater Analytics has a 12-month low of $11.23 and a 12-month high of $27.68. The business has a 50-day moving average price of $14.69 and a 200 day moving average price of $15.91. The company has a current ratio of 11.92, a quick ratio of 11.92 and a debt-to-equity ratio of 0.17.

Clearwater Analytics (NYSE:CWANGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Clearwater Analytics had a negative net margin of 3.68% and a positive return on equity of 1.94%. The company had revenue of $73.41 million during the quarter, compared to analysts’ expectations of $73.21 million. Sell-side analysts expect that Clearwater Analytics will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG lifted its position in shares of Clearwater Analytics by 1,129.0% during the second quarter. UBS Group AG now owns 2,163 shares of the company’s stock worth $26,000 after purchasing an additional 1,987 shares during the last quarter. US Bancorp DE acquired a new stake in Clearwater Analytics during the second quarter valued at approximately $29,000. Captrust Financial Advisors lifted its holdings in Clearwater Analytics by 35.3% during the 1st quarter. Captrust Financial Advisors now owns 2,663 shares of the company’s stock worth $56,000 after buying an additional 695 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Clearwater Analytics in the 2nd quarter worth approximately $73,000. Finally, Quantbot Technologies LP bought a new stake in shares of Clearwater Analytics in the 2nd quarter valued at approximately $118,000. Institutional investors own 37.56% of the company’s stock.

Clearwater Analytics Company Profile

(Get Rating)

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities. The company offers investment accounting and reporting, performance measurement, compliance monitoring, and risk analytics solutions.

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