Morgan Stanley Boosts Clearwater Analytics (NYSE:CWAN) Price Target to $30.00

Clearwater Analytics (NYSE:CWAN) had its target price lifted by equities research analysts at Morgan Stanley from $20.00 to $30.00 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 13.25% from the stock’s previous close.

Several other research analysts have also issued reports on CWAN. Oppenheimer boosted their target price on Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Royal Bank of Canada boosted their price objective on Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Piper Sandler reiterated a “neutral” rating and issued a $23.00 target price on shares of Clearwater Analytics in a research note on Monday, September 9th. Citigroup began coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They set a “buy” rating and a $28.00 target price for the company. Finally, Wells Fargo & Company raised their price target on shares of Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.67.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $26.49 on Thursday. The firm has a market capitalization of $6.51 billion, a PE ratio of -328.75, a PEG ratio of 9.16 and a beta of 0.62. The stock’s fifty day moving average is $24.50 and its 200 day moving average is $20.68. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $26.49. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The business had revenue of $106.79 million for the quarter, compared to the consensus estimate of $105.51 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, sell-side analysts anticipate that Clearwater Analytics will post 0.14 earnings per share for the current year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, Director Warburg Pincus Llc sold 9,000,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $22.41, for a total transaction of $201,690,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the transaction, the executive now directly owns 4,844 shares in the company, valued at approximately $115,045. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $22.41, for a total value of $201,690,000.00. The disclosure for this sale can be found here. Insiders sold 10,879,543 shares of company stock worth $247,145,339 over the last three months. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clearwater Analytics

Large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of Clearwater Analytics by 268.8% during the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after purchasing an additional 1,234 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Clearwater Analytics by 389.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock valued at $34,000 after buying an additional 1,549 shares in the last quarter. Amalgamated Bank purchased a new stake in Clearwater Analytics in the second quarter valued at about $90,000. Point72 Asset Management L.P. acquired a new stake in Clearwater Analytics in the second quarter worth about $91,000. Finally, RiverPark Advisors LLC grew its stake in shares of Clearwater Analytics by 361.0% during the first quarter. RiverPark Advisors LLC now owns 5,366 shares of the company’s stock worth $95,000 after acquiring an additional 4,202 shares during the last quarter. 50.10% of the stock is currently 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.