Clearwater Analytics (NYSE:CWAN) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Clearwater Analytics (NYSE:CWAN) had its price objective increased by Royal Bank of Canada from $30.00 to $36.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also commented on the company. Morgan Stanley raised Clearwater Analytics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $34.00 in a report on Friday, January 17th. The Goldman Sachs Group increased their price target on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Oppenheimer lifted their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $28.00 to $36.00 in a report on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.80.

Clearwater Analytics Price Performance

NYSE CWAN opened at $31.35 on Thursday. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $7.74 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 8.23 and a beta of 0.72. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $35.71. The company has a 50 day moving average price of $28.03 and a two-hundred day moving average price of $27.14.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. As a group, equities analysts predict that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sandeep Sahai sold 139,172 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the transaction, the chief executive officer now directly owns 441,724 shares in the company, valued at $12,783,492.56. The trade was a 23.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Souvik Das sold 76,844 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $2,310,699.08. Following the completion of the sale, the chief technology officer now owns 68,902 shares of the company’s stock, valued at $2,071,883.14. This represents a 52.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 733,431 shares of company stock valued at $21,444,493. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several institutional investors and hedge funds have recently bought and sold shares of CWAN. Creative Planning acquired a new stake in shares of Clearwater Analytics during the 3rd quarter valued at about $505,000. Raymond James & Associates lifted its stake in Clearwater Analytics by 1.5% during the third quarter. Raymond James & Associates now owns 658,579 shares of the company’s stock worth $16,629,000 after purchasing an additional 9,976 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Clearwater Analytics during the third quarter valued at approximately $45,000. Moody Aldrich Partners LLC bought a new stake in shares of Clearwater Analytics in the 3rd quarter valued at approximately $7,372,000. Finally, Zweig DiMenna Associates LLC bought a new stake in shares of Clearwater Analytics in the 3rd quarter valued at approximately $4,941,000. 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.