Wells Fargo & Company Issues Positive Forecast for Clearwater Analytics (NYSE:CWAN) Stock Price

Clearwater Analytics (NYSE:CWAN) had its price target upped by stock analysts at Wells Fargo & Company from $23.00 to $33.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 5.25% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Citigroup started coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $23.00 to $33.00 in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Piper Sandler increased their price objective on shares of Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Morgan Stanley increased their target price on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.78.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock traded up $6.25 during trading on Thursday, hitting $34.83. 1,866,318 shares of the company’s stock were exchanged, compared to its average volume of 1,449,064. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. The business has a 50-day simple moving average of $25.48 and a 200-day simple moving average of $21.78. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.07. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of -1,743.50, a PEG ratio of 9.53 and a beta of 0.61.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The company had revenue of $115.83 million during the quarter, compared to analysts’ expectations of $113.37 million. On average, research analysts forecast that Clearwater Analytics will post 0.14 EPS for the current year.

Insider Buying and Selling

In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $24.18, for a total value of $43,144,760.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO James S. Cox sold 13,700 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $23.64, for a total value of $323,868.00. Following the sale, the chief financial officer now owns 232,503 shares in the company, valued at approximately $5,496,370.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction on Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The disclosure for this sale can be found here. Insiders sold 1,864,693 shares of company stock valued at $45,128,342 over the last 90 days. 3.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CWAN. Advisors Asset Management Inc. grew its position in shares of Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after buying an additional 1,234 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Clearwater Analytics during the 3rd quarter worth approximately $45,000. Financial Management Professionals Inc. bought a new position in shares of Clearwater Analytics during the 3rd quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after acquiring an additional 2,425 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of Clearwater Analytics in the 2nd quarter valued at approximately $90,000. 50.10% of the stock is owned by institutional investors.

Clearwater Analytics Company Profile

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.