Clearwater Analytics (NYSE:CWAN) Price Target Cut to $16.00

Clearwater Analytics (NYSE:CWANGet Rating) had its price objective cut by research analysts at Wells Fargo & Company from $22.00 to $16.00 in a research note issued to investors on Thursday, MarketBeat reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 16.19% from the stock’s previous close.

CWAN has been the subject of a number of other research reports. DA Davidson dropped their price objective on shares of Clearwater Analytics to $22.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Piper Sandler dropped their price objective on shares of Clearwater Analytics from $21.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, July 18th. Royal Bank of Canada dropped their price objective on shares of Clearwater Analytics from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday. Morgan Stanley dropped their price objective on shares of Clearwater Analytics from $21.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, July 27th. Finally, Oppenheimer lowered their price target on shares of Clearwater Analytics from $25.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $13.77 on Thursday. The company’s 50 day simple moving average is $13.05 and its 200-day simple moving average is $16.48. The company has a market capitalization of $3.27 billion and a price-to-earnings ratio of -229.46. Clearwater Analytics has a 1 year low of $11.23 and a 1 year high of $27.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 12.03 and a current ratio of 12.03.

Clearwater Analytics (NYSE:CWANGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Clearwater Analytics had a negative net margin of 3.68% and a positive return on equity of 2.01%. As a group, equities research analysts expect that Clearwater Analytics will post -0.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Durable Capital Partners Lp bought 52,317 shares of the stock in a transaction dated Thursday, June 9th. The stock was acquired at an average price of $13.84 per share, for a total transaction of $724,067.28. Following the acquisition, the insider now owns 9,565,823 shares in the company, valued at approximately $132,390,990.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Durable Capital Partners Lp bought 52,317 shares of the stock in a transaction dated Thursday, June 9th. The stock was acquired at an average price of $13.84 per share, for a total transaction of $724,067.28. Following the acquisition, the insider now owns 9,565,823 shares in the company, valued at approximately $132,390,990.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sandeep Sahai bought 2,355 shares of the stock in a transaction dated Tuesday, May 31st. The stock was bought at an average price of $11.99 per share, with a total value of $28,236.45. Following the acquisition, the chief executive officer now owns 33,131 shares in the company, valued at approximately $397,240.69. The disclosure for this purchase can be found here. Insiders bought 547,123 shares of company stock worth $7,373,738 in the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Clearwater Analytics

Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE purchased a new stake in Clearwater Analytics in the 2nd quarter valued at $29,000. Steward Partners Investment Advisory LLC purchased a new stake in Clearwater Analytics in the 4th quarter valued at $56,000. Captrust Financial Advisors raised its position in Clearwater Analytics by 35.3% in the 1st quarter. Captrust Financial Advisors now owns 2,663 shares of the company’s stock valued at $56,000 after purchasing an additional 695 shares during the last quarter. Advisor Group Holdings Inc. raised its position in Clearwater Analytics by 5,694.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,794 shares of the company’s stock valued at $133,000 after purchasing an additional 5,694 shares during the last quarter. Finally, Citigroup Inc. purchased a new stake in Clearwater Analytics in the 1st quarter valued at $143,000. Hedge funds and other institutional investors own 21.08% of the company’s stock.

About Clearwater Analytics

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Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities. The company offers investment accounting and reporting, performance measurement, compliance monitoring, and risk analytics solutions.

Further Reading

Analyst Recommendations for Clearwater Analytics (NYSE:CWAN)

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