DA Davidson Increases Clearwater Analytics (NYSE:CWAN) Price Target to $24.00

Clearwater Analytics (NYSE:CWAN) had its target price upped by research analysts at DA Davidson from $22.00 to $24.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price indicates a potential upside of 26.32% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Clearwater Analytics from $14.00 to $16.00 and gave the company a “sell” rating in a research note on Thursday, August 3rd. Morgan Stanley boosted their price target on shares of Clearwater Analytics from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Credit Suisse Group boosted their price target on shares of Clearwater Analytics from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler reaffirmed a “neutral” rating and set a $17.00 target price on shares of Clearwater Analytics in a research note on Thursday, August 3rd. Finally, Wells Fargo & Company upped their target price on shares of Clearwater Analytics from $19.00 to $22.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.75.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $19.00 on Friday. The company’s 50-day moving average is $17.10 and its two-hundred day moving average is $16.22. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of -172.73 and a beta of 0.44. Clearwater Analytics has a 1-year low of $13.02 and a 1-year high of $20.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.29 and a quick ratio of 6.29.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $89.88 million for the quarter, compared to the consensus estimate of $87.59 million. Clearwater Analytics had a negative net margin of 6.35% and a positive return on equity of 0.24%. Analysts forecast that Clearwater Analytics will post -0.05 EPS for the current year.

Insiders Place Their Bets

In other Clearwater Analytics news, insider Subi Sethi sold 13,418 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $19.05, for a total transaction of $255,612.90. Following the completion of the transaction, the insider now owns 1,005 shares in the company, valued at approximately $19,145.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Subi Sethi sold 13,418 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $19.05, for a total value of $255,612.90. Following the completion of the transaction, the insider now owns 1,005 shares in the company, valued at approximately $19,145.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Xii Carbon Analytics Acqu Wcas sold 10,000,000 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $15.95, for a total transaction of $159,500,000.00. The disclosure for this sale can be found here. Insiders sold 10,094,849 shares of company stock worth $161,200,081 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CWAN. UBS Group AG boosted its stake in Clearwater Analytics by 1,129.0% during the 2nd quarter. UBS Group AG now owns 2,163 shares of the company’s stock worth $26,000 after purchasing an additional 1,987 shares during the period. Fifth Third Bancorp boosted its stake in Clearwater Analytics by 67.5% during the 1st quarter. Fifth Third Bancorp now owns 1,732 shares of the company’s stock worth $28,000 after purchasing an additional 698 shares during the period. BNP Paribas Arbitrage SNC acquired a new stake in Clearwater Analytics during the 3rd quarter worth $32,000. Ensign Peak Advisors Inc acquired a new stake in Clearwater Analytics during the 3rd quarter worth $49,000. Finally, Captrust Financial Advisors boosted its stake in Clearwater Analytics by 35.3% during the 1st quarter. Captrust Financial Advisors now owns 2,663 shares of the company’s stock worth $56,000 after purchasing an additional 695 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Company Profile

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.