CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Stock Price Down 6.9% Following Analyst Downgrade

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC)’s stock price dropped 6.9% during trading on Friday after Citigroup downgraded the stock from a buy rating to a neutral rating. Citigroup now has a $6.00 price target on the stock, down from their previous price target of $10.00. CCC Intelligent Solutions Holdings Inc. Common Stock traded as low as $4.95 and last traded at $4.96. Approximately 3,548,713 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 12,310,904 shares. The stock had previously closed at $5.33.

Other research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating in a report on Thursday. Weiss Ratings assumed coverage on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Wednesday. They issued a “sell (d)” rating for the company. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $6.00.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Down 6.4%

The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $2.93 billion, a PE ratio of 44.42, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71.

CCC Intelligent Solutions Holdings Inc. Common Stock Company Profile

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company’s SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.