Clarivate PLC (NYSE:CLVT) Receives $3.22 Average Target Price from Brokerages

Shares of Clarivate PLC (NYSE:CLVT) have received an average recommendation of “Reduce” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $3.2167.

CLVT has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a report on Friday, March 27th. Royal Bank Of Canada reduced their price objective on Clarivate from $5.00 to $3.00 and set a “sector perform” rating for the company in a report on Wednesday, February 25th. Barclays dropped their target price on Clarivate from $4.00 to $2.40 and set an “underweight” rating on the stock in a research report on Wednesday, February 25th. Citigroup dropped their target price on Clarivate from $4.25 to $2.80 and set a “neutral” rating on the stock in a research report on Wednesday, March 4th. Finally, The Goldman Sachs Group cut Clarivate from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $4.20 to $3.60 in a research report on Thursday, January 8th.

Clarivate Price Performance

NYSE CLVT opened at $2.51 on Tuesday. Clarivate has a one year low of $1.66 and a one year high of $4.77. The stock has a 50-day moving average of $2.39 and a 200 day moving average of $2.99. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -8.35 and a beta of 1.39. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.84 and a current ratio of 0.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. M&T Bank Corp purchased a new position in Clarivate in the fourth quarter worth about $34,000. Essex Financial Services Inc. purchased a new position in Clarivate in the third quarter worth about $41,000. PharVision Advisers LLC purchased a new position in Clarivate in the third quarter worth about $45,000. Pitcairn Co. purchased a new position in Clarivate in the second quarter worth about $52,000. Finally, Jump Financial LLC purchased a new position in Clarivate in the fourth quarter worth about $41,000. 85.72% of the stock is owned by hedge funds and other institutional investors.

About Clarivate

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.