Clarivate PLC (NYSE:CLVT) Receives $3.30 Average PT from Brokerages

Shares of Clarivate PLC (NYSE:CLVT) have received a consensus rating of “Reduce” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $3.2167.

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 target price (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th. Citigroup dropped their price target on Clarivate from $4.25 to $2.80 and set a “neutral” rating on the stock in a research report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th. Finally, Royal Bank Of Canada lowered their price objective on Clarivate from $5.00 to $3.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 25th.

Clarivate Stock Performance

Shares of Clarivate stock opened at $2.53 on Monday. Clarivate has a 12 month low of $1.66 and a 12 month high of $4.77. The firm has a market capitalization of $1.62 billion, a P/E ratio of -8.43 and a beta of 1.55. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $2.67 and a two-hundred day simple moving average of $3.40.

Institutional Trading of Clarivate

Several institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers raised its holdings in Clarivate by 11.2% in the second quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock worth $112,000 after buying an additional 2,617 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Clarivate by 0.9% during the second quarter. California State Teachers Retirement System now owns 303,147 shares of the company’s stock valued at $1,304,000 after acquiring an additional 2,788 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Clarivate by 3.9% during the third quarter. Envestnet Asset Management Inc. now owns 77,275 shares of the company’s stock valued at $296,000 after acquiring an additional 2,884 shares in the last quarter. IFP Advisors Inc raised its holdings in Clarivate by 8.1% in the 3rd quarter. IFP Advisors Inc now owns 41,426 shares of the company’s stock worth $170,000 after acquiring an additional 3,117 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in Clarivate by 4.3% in the 2nd quarter. Hsbc Holdings PLC now owns 116,648 shares of the company’s stock valued at $500,000 after acquiring an additional 4,792 shares in the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Clarivate Company Profile

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.