CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Shares Down 6.9% After Analyst Downgrade

Key Points

• Citigroup downgraded CCC from a buy to a neutral rating and cut its price target to $6.00 (from $10.00), sending shares down about 6.9% to $4.96 on Friday with trading volume roughly 71% below average.
• Other analysts have moved negative as well — Wall Street Zen cut CCC to a hold and Weiss Ratings initiated coverage with a sell — leaving a MarketBeat consensus rating of "Reduce" and a consensus price target of $6.00.
• CCC is a SaaS/AI provider for the property & casualty insurance economy with a market cap of about $2.89 billion, a P/E of 46.42 and a debt-to-equity ratio of 0.71.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) fell 6.9% on Friday after Citigroup downgraded the stock from a buy rating to a neutral rating. Citigroup now has a $6.00 price target on the stock, down from their previous price target of $10.00. CCC Intelligent Solutions Holdings Inc. Common Stock traded as low as $4.95 and last traded at $4.96. 3,548,713 shares traded hands during trading, a decline of 71% from the average session volume of 12,310,904 shares. The stock had previously closed at $5.33.

Several other analysts have also commented on CCC. Wall Street Zen downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a research report on Thursday. Weiss Ratings assumed coverage on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Wednesday. They issued a "sell (d)" rating for the company. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CCC Intelligent Solutions Holdings Inc. Common Stock currently has a consensus rating of "Reduce" and a consensus price target of $6.00.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

The company has a market cap of $2.89 billion, a P/E ratio of 46.42, a P/E/G ratio of 1.84 and a beta of 0.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.43 and a quick ratio of 1.43.

CCC Intelligent Solutions Holdings Inc. Common Stock Company Profile

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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