Brokerages Set Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Target Price at $33.80

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has received a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $33.80.

Several research analysts have commented on the company. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $28.00 to $36.00 in a research report on Thursday, February 20th. Oppenheimer increased their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada boosted their target price on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. UBS Group lifted their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock opened at $27.11 on Friday. 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 52 week low of $15.62 and a 52 week high of $35.71. The firm’s 50 day moving average is $28.28 and its two-hundred day moving average is $27.85. The firm has a market capitalization of $6.80 billion, a P/E ratio of 16.33, a P/E/G ratio of 8.23 and a beta of 0.69.

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

Insider Activity

In related news, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the completion of the transaction, the chief executive officer now directly owns 615,855 shares of the company’s stock, valued at $15,944,485.95. This trade represents a 7.51 % 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 Clearwater Analytics stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $1,878,833.74. Following the transaction, the insider now directly owns 144,973 shares of the company’s stock, valued at approximately $4,359,338.11. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 644,510 shares of company stock worth $18,688,862 in the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clearwater Analytics

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Clearwater Analytics by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock worth $574,607,000 after buying an additional 2,455,844 shares in the last quarter. Wasatch Advisors LP increased its position in Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after purchasing an additional 559,564 shares in the last quarter. Alliancebernstein L.P. raised its stake in Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after purchasing an additional 2,931,445 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Clearwater Analytics by 98.2% in the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after purchasing an additional 2,950,555 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Clearwater Analytics by 52.4% during the 4th quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock worth $126,972,000 after purchasing an additional 1,585,869 shares during the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

About Clearwater Analytics

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.