Clearwater Analytics (NYSE:CWAN) Price Target Raised to $36.00

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

Other analysts have also issued reports about the stock. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $28.00 to $36.00 in a research note on Thursday. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Morgan Stanley upgraded Clearwater Analytics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $34.00 in a research report on Friday, January 17th. UBS Group upped their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday. Finally, Oppenheimer raised their target price on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics presently has an average rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Stock Up 4.7 %

CWAN opened at $31.35 on Thursday. The stock’s 50 day moving average price is $28.03 and its 200 day moving average price is $27.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The stock has a market cap of $7.74 billion, a P/E ratio of 18.88, a P/E/G 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.

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

Insiders Place Their Bets

In other news, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $29.07, for a total value of $113,082.30. Following the completion of the sale, the executive now owns 6,373 shares of the company’s stock, valued at $185,263.11. This trade represents a 37.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sandeep Sahai sold 218,687 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $6,575,918.09. Following the transaction, the chief executive officer now directly owns 681,588 shares in the company, valued at $20,495,351.16. The trade was a 24.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 733,431 shares of company stock worth $21,444,493. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after purchasing an additional 468 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Clearwater Analytics in the 3rd quarter valued at approximately $45,000. Arcadia Investment Management Corp MI purchased a new stake in Clearwater Analytics in the 4th quarter worth approximately $57,000. Financial Management Professionals Inc. acquired a new stake in shares of Clearwater Analytics during the 3rd quarter valued at $58,000. Finally, R Squared Ltd purchased a new position in shares of Clearwater Analytics during the 4th quarter valued at $80,000. 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.