Analysts Set Clarivate Plc (NYSE:CLVT) Price Target at $7.25

Shares of Clarivate Plc (NYSE:CLVT) have been assigned an average rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $7.25.

Several brokerages recently issued reports on CLVT. Barclays dropped their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada decreased their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th.

Insider Activity

In other Clarivate news, insider Bar Veinstein sold 120,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the transaction, the insider now directly owns 976,583 shares in the company, valued at approximately $6,836,081. This represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael J. Angelakis bought 1,500,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the completion of the acquisition, the director now owns 1,500,000 shares of the company’s stock, valued at $7,665,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 22.77% of the company’s stock.

Institutional Investors Weigh In On Clarivate

Several institutional investors have recently modified their holdings of CLVT. Nisa Investment Advisors LLC acquired a new stake in Clarivate in the 2nd quarter valued at about $26,000. Truist Financial Corp purchased a new stake in shares of Clarivate in the second quarter valued at about $63,000. KBC Group NV grew its position in shares of Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after purchasing an additional 2,549 shares during the last quarter. Forum Financial Management LP purchased a new position in shares of Clarivate during the 2nd quarter worth approximately $75,000. Finally, Headlands Technologies LLC raised its position in shares of Clarivate by 749.2% during the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock worth $83,000 after purchasing an additional 12,909 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Trading Down 0.5 %

CLVT opened at $5.73 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. Clarivate has a 52 week low of $4.25 and a 52 week high of $9.60. The business’s 50 day moving average is $6.08 and its two-hundred day moving average is $6.10. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -2.88 and a beta of 1.18.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The firm had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. Clarivate’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. On average, research analysts predict that Clarivate will post 0.63 EPS for the current year.

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.