Clarivate (NYSE:CLVT) Price Target Cut to $15.00 by Analysts at Morgan Stanley

Clarivate (NYSE:CLVTGet Rating) had its price objective decreased by Morgan Stanley from $16.00 to $15.00 in a research report sent to investors on Tuesday morning, MarketBeat reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on CLVT. Royal Bank of Canada cut their price objective on Clarivate from $23.00 to $18.00 and set an outperform rating for the company in a research report on Friday, July 1st. Wells Fargo & Company started coverage on Clarivate in a research report on Tuesday, July 12th. They set an overweight rating and a $20.00 price objective for the company. Finally, TheStreet raised Clarivate from a d+ rating to a c rating in a research report on Tuesday, May 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $17.50.

Clarivate Stock Down 3.4 %

Shares of CLVT opened at $11.77 on Tuesday. Clarivate has a 52-week low of $11.16 and a 52-week high of $25.63. The company has a market capitalization of $7.92 billion, a PE ratio of -58.85 and a beta of 0.89. The stock has a fifty day simple moving average of $13.21 and a two-hundred day simple moving average of $14.34. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.56.

Clarivate (NYSE:CLVTGet Rating) last issued its earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Clarivate had a return on equity of 5.47% and a net margin of 1.87%. The business had revenue of $686.60 million during the quarter, compared to the consensus estimate of $691.51 million. As a group, equities analysts forecast that Clarivate will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Clarivate

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Freestone Capital Holdings LLC boosted its stake in shares of Clarivate by 2.9% in the 4th quarter. Freestone Capital Holdings LLC now owns 25,946 shares of the company’s stock valued at $610,000 after buying an additional 742 shares during the period. US Bancorp DE boosted its stake in shares of Clarivate by 5.6% in the 1st quarter. US Bancorp DE now owns 14,343 shares of the company’s stock valued at $240,000 after buying an additional 765 shares during the period. Montag & Caldwell LLC boosted its stake in shares of Clarivate by 3.0% in the 2nd quarter. Montag & Caldwell LLC now owns 27,869 shares of the company’s stock valued at $386,000 after buying an additional 817 shares during the period. Simon Quick Advisors LLC boosted its stake in shares of Clarivate by 13.6% in the 1st quarter. Simon Quick Advisors LLC now owns 10,453 shares of the company’s stock valued at $175,000 after buying an additional 1,251 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in shares of Clarivate by 6.5% in the 1st quarter. Park Avenue Securities LLC now owns 21,297 shares of the company’s stock valued at $357,000 after buying an additional 1,305 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Clarivate Company Profile

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Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.

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