Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Expected to Announce Quarterly Sales of $73.33 Million

Equities research analysts predict that Clearwater Analytics Holdings, Inc. (NYSE:CWANGet Rating) will report $73.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Clearwater Analytics’ earnings, with the highest sales estimate coming in at $73.40 million and the lowest estimate coming in at $73.28 million. The company is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Clearwater Analytics will report full-year sales of $303.35 million for the current fiscal year, with estimates ranging from $302.89 million to $304.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $365.01 million, with estimates ranging from $360.47 million to $367.80 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Clearwater Analytics.

Clearwater Analytics (NYSE:CWANGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05.

A number of research analysts have issued reports on CWAN shares. Wells Fargo & Company reduced their price objective on Clearwater Analytics from $28.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, March 3rd. Morgan Stanley lowered their target price on Clearwater Analytics from $28.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday, March 3rd. Royal Bank of Canada decreased their price target on Clearwater Analytics from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, March 3rd. Piper Sandler lowered their price objective on Clearwater Analytics from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, January 13th. Finally, Credit Suisse Group decreased their target price on Clearwater Analytics from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $24.70.

In other news, major shareholder Durable Capital Partners Lp acquired 4,300 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The shares were purchased at an average cost of $17.15 per share, for a total transaction of $73,745.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sandeep Sahai bought 14,280 shares of the company’s stock in a transaction dated Monday, March 7th. The stock was purchased at an average cost of $17.37 per share, for a total transaction of $248,043.60. The disclosure for this purchase can be found here. Insiders bought 282,586 shares of company stock worth $4,796,253 over the last quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. increased its position in shares of Clearwater Analytics by 17.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 6,823 shares of the company’s stock worth $143,000 after purchasing an additional 1,029 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Clearwater Analytics by 164.9% during the first quarter. Envestnet Asset Management Inc. now owns 34,500 shares of the company’s stock worth $725,000 after buying an additional 21,475 shares during the last quarter. TownSquare Capital LLC increased its holdings in Clearwater Analytics by 8.4% during the first quarter. TownSquare Capital LLC now owns 20,586 shares of the company’s stock worth $432,000 after buying an additional 1,597 shares during the last quarter. Truist Financial Corp bought a new position in Clearwater Analytics during the first quarter worth $231,000. Finally, Norges Bank bought a new stake in shares of Clearwater Analytics in the fourth quarter valued at about $9,566,000. Hedge funds and other institutional investors own 21.08% of the company’s stock.

NYSE:CWAN opened at $16.95 on Tuesday. The business’s 50-day moving average price is $19.31. The company has a current ratio of 10.30, a quick ratio of 10.30 and a debt-to-equity ratio of 0.20. Clearwater Analytics has a 1-year low of $14.51 and a 1-year high of $27.68.

Clearwater Analytics Company Profile (Get Rating)

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities. The company offers investment accounting and reporting, performance measurement, compliance monitoring, and risk analytics solutions.

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Earnings History and Estimates for Clearwater Analytics (NYSE:CWAN)

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