Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives $33.80 Consensus Target Price from Brokerages

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $33.80.

A number of research firms have recently issued reports on CWAN. The Goldman Sachs Group increased their price objective on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. UBS Group boosted their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Oppenheimer increased their target price on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st.

Clearwater Analytics Trading Down 1.6 %

Shares of CWAN stock opened at $29.85 on Tuesday. The company has a market cap of $7.37 billion, a P/E ratio of 17.98, a PEG ratio of 8.23 and a beta of 0.72. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The stock has a 50 day simple moving average of $28.16 and a two-hundred day simple moving average of $27.33. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. Research analysts forecast that Clearwater Analytics will post 0.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Scott Stanley Erickson sold 76,256 shares of Clearwater Analytics stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the sale, the executive now directly owns 78,363 shares in the company, valued at $2,356,375.41. The trade was a 49.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Subi Sethi sold 62,482 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the transaction, the insider now owns 144,973 shares of the company’s stock, valued at approximately $4,359,338.11. The trade was a 30.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 733,431 shares of company stock valued at $21,444,493 in the last three months. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Clearwater Analytics during the third quarter valued at $3,677,000. Principal Financial Group Inc. grew its stake in shares of Clearwater Analytics by 1,600.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock worth $39,690,000 after acquiring an additional 1,357,425 shares during the period. Loomis Sayles & Co. L P increased its holdings in Clearwater Analytics by 11.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock worth $83,186,000 after acquiring an additional 327,880 shares during the last quarter. Swiss National Bank raised its stake in Clearwater Analytics by 8.5% in the 3rd quarter. Swiss National Bank now owns 312,900 shares of the company’s stock valued at $7,901,000 after acquiring an additional 24,600 shares during the period. Finally, Stephens Investment Management Group LLC lifted its holdings in Clearwater Analytics by 189.5% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock valued at $34,926,000 after purchasing an additional 830,684 shares during the last quarter. 50.10% of the stock is currently owned by hedge funds and other 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.