Clearwater Analytics (NYSE:CWAN) Price Target Lowered to $34.00 at DA Davidson

Clearwater Analytics (NYSE:CWAN) had its target price cut by DA Davidson from $36.00 to $34.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the stock. Oppenheimer lowered their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 11th. The Goldman Sachs Group raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the company an “overweight” rating in a research report on Tuesday, June 24th. Wells Fargo & Company lowered their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They issued an “overweight” rating and a $28.00 price target on the stock. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Clearwater Analytics has an average rating of “Buy” and a consensus target price of $32.20.

Clearwater Analytics Stock Up 2.5%

CWAN opened at $18.92 on Tuesday. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 3.69 and a beta of 0.73. Clearwater Analytics has a twelve month low of $17.98 and a twelve month high of $35.71. The company’s 50-day moving average price is $21.73 and its two-hundred day moving average price is $24.28.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $181.94 million during the quarter, compared to analysts’ expectations of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The firm’s revenue was up 70.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, equities analysts expect that Clearwater Analytics will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Clearwater Analytics

In related news, insider Subi Sethi sold 7,358 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $159,447.86. Following the sale, the insider owned 218,788 shares of the company’s stock, valued at approximately $4,741,135.96. This represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Souvik Das sold 5,273 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $21.67, for a total transaction of $114,265.91. Following the sale, the chief technology officer directly owned 142,549 shares in the company, valued at $3,089,036.83. This trade represents a 3.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,107 shares of company stock worth $4,629,708 in the last ninety days. Insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock worth $623,001,000 after buying an additional 2,366,715 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Clearwater Analytics by 7.7% in the 1st quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company’s stock worth $171,866,000 after buying an additional 458,444 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Clearwater Analytics by 6.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,774,285 shares of the company’s stock worth $126,630,000 after buying an additional 363,720 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Clearwater Analytics by 22.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,737,241 shares of the company’s stock worth $125,833,000 after buying an additional 1,060,435 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Clearwater Analytics by 34.1% in the 1st quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock worth $152,930,000 after buying an additional 1,452,474 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

About Clearwater Analytics

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.