Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives $31.90 Average Price Target from Analysts

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has received an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.90.

A number of brokerages have commented on CWAN. Oppenheimer cut their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, June 11th. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the stock an “overweight” rating in a report on Tuesday, June 24th. The Goldman Sachs Group began coverage on Clearwater Analytics in a research report on Monday, May 19th. They issued a “neutral” rating and a $26.00 price objective for the company. Wells Fargo & Company dropped their price target on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They set an “overweight” rating and a $28.00 price objective for the company.

Clearwater Analytics Price Performance

NYSE:CWAN opened at $21.77 on Monday. Clearwater Analytics has a 52-week low of $17.63 and a 52-week high of $35.71. The company has a market cap of $6.17 billion, a P/E ratio of 12.96, a P/E/G ratio of 4.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.09 and a current ratio of 5.09. The stock’s 50-day simple moving average is $22.79 and its 200 day simple moving average is $25.64.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Clearwater Analytics had a return on equity of 5.22% and a net margin of 90.18%. The company had revenue of $126.86 million for the quarter, compared to analysts’ expectations of $125.11 million. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue was up 23.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathleen A. Corbet sold 12,634 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total transaction of $298,920.44. Following the completion of the sale, the director directly owned 14,498 shares in the company, valued at approximately $343,022.68. This represents a 46.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Souvik Das sold 5,273 shares of the firm’s stock in a transaction on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $114,265.91. Following the completion of the transaction, the chief technology officer owned 142,549 shares in the company, valued at $3,089,036.83. The trade was a 3.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 239,407 shares of company stock worth $5,482,987. Insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently made changes to their positions in CWAN. Nvwm LLC bought a new position in Clearwater Analytics in the first quarter valued at approximately $46,000. Quarry LP increased its stake in shares of Clearwater Analytics by 979.4% in the 1st quarter. Quarry LP now owns 2,094 shares of the company’s stock valued at $56,000 after purchasing an additional 1,900 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Clearwater Analytics during the 4th quarter worth $82,000. CWM LLC boosted its stake in Clearwater Analytics by 714.6% in the first quarter. CWM LLC now owns 3,071 shares of the company’s stock valued at $82,000 after buying an additional 2,694 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in Clearwater Analytics in the fourth quarter valued at about $88,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

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.