Clarivate (NYSE:CLVT) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Clarivate from “Buy” to “Hold.” Overall analyst sentiment is bearish, with one Buy, four Hold, and three Sell ratings, producing a consensus “Reduce” rating and an average price target of $3.02.
• Clarivate shares opened at $2.00, below their 50-day and 200-day moving averages, while the stock remains near its 12-month low. The company has a $1.28 billion market capitalization and negative net margin.
• In its latest quarter, Clarivate narrowly beat earnings expectations with $0.19 per share versus $0.18 expected, but revenue of $587.3 million declined 5.5% year over year and slightly missed estimates.

Clarivate (NYSE:CLVT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently commented on the company. Stifel Nicolaus reduced their target price on Clarivate from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Thursday. Citigroup dropped their price target on Clarivate from $2.80 to $2.50 and set a "neutral" rating for the company in a research report on Thursday. Barclays cut their price objective on Clarivate from $2.50 to $2.00 and set an "underweight" rating for the company in a report on Thursday. Weiss Ratings restated a "sell (e+)" rating on shares of Clarivate in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group lowered their target price on shares of Clarivate from $2.90 to $2.60 and set a "neutral" rating on the stock in a research note on Thursday. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $3.02.

Clarivate Trading Down 0.2%

Shares of Clarivate stock opened at $2.00 on Friday. The company's 50-day moving average price is $2.27 and its 200-day moving average price is $2.42. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.93. Clarivate has a 12-month low of $1.66 and a 12-month high of $4.55. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -3.86 and a beta of 1.38.

Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. The firm had revenue of $587.30 million for the quarter, compared to analysts' expectations of $589.73 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The business's quarterly revenue was down 5.5% on a year-over-year basis. On average, equities analysts expect that Clarivate will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Clarivate

A number of hedge funds have recently bought and sold shares of the company. Atairos Partners GP Inc. increased its stake in Clarivate by 195.3% in the 4th quarter. Atairos Partners GP Inc. now owns 10,232,667 shares of the company's stock worth $34,177,000 after purchasing an additional 6,767,667 shares during the period. First Trust Advisors LP bought a new stake in Clarivate in the fourth quarter valued at approximately $16,721,000. Balyasny Asset Management L.P. boosted its stake in shares of Clarivate by 827.6% during the third quarter. Balyasny Asset Management L.P. now owns 4,882,593 shares of the company's stock valued at $18,700,000 after purchasing an additional 4,356,232 shares during the period. Bank of America Corp DE boosted its stake in shares of Clarivate by 506.9% during the second quarter. Bank of America Corp DE now owns 2,870,668 shares of the company's stock valued at $12,344,000 after purchasing an additional 2,397,670 shares during the period. Finally, Man Group plc increased its stake in shares of Clarivate by 228.1% in the second quarter. Man Group plc now owns 3,091,139 shares of the company's stock worth $13,292,000 after buying an additional 2,148,943 shares during the period. Institutional investors own 85.72% of the company's stock.

Clarivate Company Profile

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters' Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.

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