Clarivate Plc (NYSE:CLVT) Receives $7.71 Average Price Target from Analysts

Shares of Clarivate Plc (NYSE:CLVT) have received a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $7.71.

A number of analysts have recently weighed in on CLVT shares. Barclays cut their price objective on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their price target on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th.

Clarivate Trading Up 0.3 %

NYSE:CLVT opened at $6.77 on Thursday. Clarivate has a 52 week low of $4.97 and a 52 week high of $9.60. The firm has a 50 day moving average of $6.52 and a 200 day moving average of $6.41. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of -3.54 and a beta of 1.17.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $650.30 million during the quarter, compared to analysts’ expectations of $651.94 million. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.16 earnings per share. As a group, sell-side analysts anticipate that Clarivate will post 0.64 earnings per share for the current fiscal year.

Insider Activity at Clarivate

In other Clarivate news, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the sale, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the sale, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bar Veinstein sold 120,000 shares of Clarivate stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the sale, the insider now directly owns 976,583 shares in the company, valued at approximately $6,836,081. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 22.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Evermay Wealth Management LLC acquired a new position in shares of Clarivate during the 1st quarter valued at about $31,000. Nisa Investment Advisors LLC purchased a new stake in Clarivate in the 2nd quarter valued at about $26,000. J.W. Cole Advisors Inc. purchased a new stake in Clarivate in the 1st quarter valued at about $76,000. Truist Financial Corp purchased a new stake in Clarivate in the 2nd quarter valued at about $63,000. Finally, Forum Financial Management LP purchased a new stake in Clarivate in the 2nd quarter valued at about $75,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.