Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives $32.00 Consensus Target Price from Brokerages

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $32.00.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. UBS Group raised their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. JPMorgan Chase & Co. began coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They set an “overweight” rating and a $28.00 price target for the company. Finally, Piper Sandler reduced their price objective on shares of Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st.

Insider Buying and Selling at Clearwater Analytics

In other news, insider Subi Sethi sold 62,482 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $1,878,833.74. Following the transaction, the insider now directly owns 144,973 shares in the company, valued at approximately $4,359,338.11. This trade represents a 30.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Scott Stanley Erickson sold 76,256 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the completion of the transaction, the executive now owns 78,363 shares in the company, valued at approximately $2,356,375.41. The trade was a 49.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 644,510 shares of company stock worth $18,311,363 in the last ninety days. 3.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CWAN. GAMMA Investing LLC increased its holdings in shares of Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after acquiring an additional 468 shares during the period. Nvwm LLC acquired a new stake in shares of Clearwater Analytics in the 1st quarter worth about $46,000. Quarry LP increased its holdings in shares of Clearwater Analytics by 979.4% in the 1st quarter. Quarry LP now owns 2,094 shares of the company’s stock worth $56,000 after acquiring an additional 1,900 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Clearwater Analytics in the 4th quarter worth about $57,000. Finally, R Squared Ltd acquired a new stake in shares of Clearwater Analytics in the 4th quarter worth about $80,000. 50.10% of the stock is currently owned by institutional investors.

Clearwater Analytics Price Performance

CWAN opened at $23.81 on Friday. The company has a fifty day simple moving average of $24.31 and a 200 day simple moving average of $27.33. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 8.23 and a beta of 0.79. Clearwater Analytics has a twelve month low of $17.63 and a twelve month high of $35.71. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $126.86 million during the quarter, compared to analyst estimates of $125.11 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The business’s revenue was up 23.5% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. Equities research analysts expect that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

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.