Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives $23.78 Average Price Target from Brokerages

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $23.78.

CWAN has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler reaffirmed a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a research report on Monday, September 9th. Oppenheimer raised Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research report on Monday, July 8th. Citigroup initiated coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 target price for the company. Finally, Royal Bank of Canada lifted their target price on Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th.

Clearwater Analytics Stock Performance

NYSE CWAN opened at $25.25 on Friday. The company has a market cap of $6.20 billion, a P/E ratio of -315.63, a PEG ratio of 9.30 and a beta of 0.61. The company has a fifty day simple moving average of $23.58 and a 200 day simple moving average of $20.05. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $26.02.

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

Insider Buying and Selling

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $19.50, for a total value of $75,855.00. Following the sale, the executive now owns 4,844 shares of the company’s stock, valued at approximately $94,458. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $19.50, for a total value of $75,855.00. Following the transaction, the executive now owns 4,844 shares of the company’s stock, valued at approximately $94,458. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Warburg Pincus Llc sold 9,000,000 shares of Clearwater Analytics stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $22.41, for a total value of $201,690,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,897,118 shares of company stock worth $247,319,596. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Clearwater Analytics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cim LLC bought a new position in shares of Clearwater Analytics during the second quarter valued at approximately $163,000. Sanctuary Advisors LLC bought a new position in shares of Clearwater Analytics during the second quarter valued at $300,000. Ghisallo Capital Management LLC purchased a new position in Clearwater Analytics in the second quarter worth about $4,630,000. Teachers Retirement System of The State of Kentucky purchased a new position in Clearwater Analytics in the 2nd quarter worth approximately $805,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Clearwater Analytics during the second quarter valued at $91,000. Institutional investors own 50.10% of the company’s stock.

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.