CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Lowered to Neutral Rating by Citigroup

Key Points

• Citigroup downgraded CCC Intelligent Solutions (NASDAQ:CCC) from a "buy" to a "neutral" rating and set a $6.00 price target, implying roughly a 12.6% upside from the prior close.
• Other brokers are cautious as well—Weiss Ratings initiated a "sell (d)" and Wall Street Zen cut its rating to "hold", leaving MarketBeat's average rating at Reduce with an average target of $6.00.
• Shares opened at $5.33 and were down about 4.3%; CCC has a market cap of $3.13 billion, a P/E of 46.4, and a 12‑month trading range of $4.80 to $10.50.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) was downgraded by research analysts at Citigroup from a "buy" rating to a "neutral" rating in a research note issued on Friday, MarketBeat.com reports. They presently have a $6.00 price target on the stock. Citigroup's price target would indicate a potential upside of 12.57% from the stock's previous close.

A number of other brokerages also recently issued reports on CCC. Weiss Ratings initiated coverage on CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Wednesday. They set a "sell (d)" rating on the stock. Wall Street Zen downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a report on Thursday. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, CCC Intelligent Solutions Holdings Inc. Common Stock has an average rating of "Reduce" and an average target price of $6.00.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Down 4.3%

Shares of CCC opened at $5.33 on Friday. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 46.42, a price-to-earnings-growth ratio of 1.84 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. Common Stock has a 12 month low of $4.80 and a 12 month high of $10.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.71.

About CCC Intelligent Solutions Holdings Inc. Common Stock

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.

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