Oppenheimer Cuts Clearwater Analytics (NYSE:CWAN) Price Target to $36.00

Clearwater Analytics (NYSE:CWAN) had its target price decreased by Oppenheimer from $40.00 to $36.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 52.06% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Morgan Stanley restated an “overweight” rating and issued a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Royal Bank of Canada increased their price target on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. began coverage on Clearwater Analytics in a report on Friday, April 25th. They issued an “overweight” rating and a $28.00 target price for the company. UBS Group lifted their price target on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group started coverage on Clearwater Analytics in a research note on Monday, May 19th. They issued a “neutral” rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Clearwater Analytics has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock traded down $1.08 on Wednesday, hitting $23.68. The stock had a trading volume of 3,568,763 shares, compared to its average volume of 2,446,709. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 8.23 and a beta of 0.77. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a twelve month low of $17.63 and a twelve month high of $35.71. The business’s 50 day moving average is $23.04 and its two-hundred day moving average is $26.53.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. Analysts forecast that Clearwater Analytics will post 0.18 EPS for the current year.

Insider Buying and Selling at Clearwater Analytics

In other news, Director Kathleen A. Corbet sold 12,634 shares of Clearwater Analytics stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total value of $298,920.44. Following the completion of the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $343,022.68. This trade represents a 46.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $26.58, for a total value of $497,046.00. Following the completion of the transaction, the chief financial officer now directly owns 358,502 shares in the company, valued at $9,528,983.16. This represents a 4.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,034 shares of company stock valued at $4,926,245. 3.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nvwm LLC bought a new position in Clearwater Analytics during the first quarter worth $46,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Clearwater Analytics in the 4th quarter valued at about $57,000. Quarry LP increased its position in Clearwater Analytics by 979.4% in the 1st quarter. Quarry LP now owns 2,094 shares of the company’s stock valued at $56,000 after buying an additional 1,900 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Clearwater Analytics during the 4th quarter worth approximately $82,000. Finally, CWM LLC boosted its holdings in Clearwater Analytics by 714.6% in the first quarter. CWM LLC now owns 3,071 shares of the company’s stock worth $82,000 after acquiring an additional 2,694 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors.

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.