Clarivate PLC (NYSE:CLVT) Receives Average Recommendation of "Reduce" from Brokerages

Key Points

• Clarivate has an average analyst recommendation of "Reduce" from eight brokers (three sell, five hold) with a mean 1‑year price target of about $3.22.
• Major firms have recently downgraded and cut targets—Goldman Sachs moved buy→neutral and trimmed its target to $3.60, Morgan Stanley reiterated an underweight and cut its target to $3.00 (from $5.00), and RBC lowered its target to $3.00.
• The stock opened at $2.43 (52‑week range $1.66–$4.77), has a market cap of $1.55 billion and a negative P/E (-8.08), and institutional investors own about 85.7% of the shares while several hedge funds have recently increased positions.

Clarivate PLC (NYSE:CLVT - Get Free Report) has received an average recommendation of "Reduce" from the eight analysts that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $3.2167.

Several equities research analysts recently issued reports on CLVT shares. Wall Street Zen lowered shares of Clarivate from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. The Goldman Sachs Group lowered shares of Clarivate from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $4.20 to $3.60 in a research report on Thursday, January 8th. Weiss Ratings reissued a "sell (e+)" rating on shares of Clarivate in a research note on Monday, December 29th. Royal Bank Of Canada decreased their price objective on shares of Clarivate from $5.00 to $3.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 25th. Finally, Morgan Stanley restated an "underweight" rating and set a $3.00 target price (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th.

Hedge Funds Weigh In On Clarivate

A number of hedge funds have recently made changes to their positions in the business. FIL Ltd grew its position in shares of Clarivate by 2.3% during the fourth quarter. FIL Ltd now owns 25,266,152 shares of the company's stock worth $84,389,000 after purchasing an additional 567,170 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Clarivate by 3.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,768,783 shares of the company's stock worth $83,373,000 after purchasing an additional 696,903 shares during the period. Atairos Partners GP Inc. boosted 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. American Century Companies Inc. grew its holdings in Clarivate by 20.6% during the 3rd quarter. American Century Companies Inc. now owns 9,973,797 shares of the company's stock valued at $38,200,000 after buying an additional 1,706,306 shares in the last quarter. Finally, Invenomic Capital Management LP grew its holdings in Clarivate by 3.8% during the 4th quarter. Invenomic Capital Management LP now owns 9,029,414 shares of the company's stock valued at $30,158,000 after buying an additional 326,369 shares in the last quarter. Institutional investors own 85.72% of the company's stock.

Clarivate Stock Down 2.2%

NYSE CLVT opened at $2.43 on Friday. Clarivate has a 52 week low of $1.66 and a 52 week high of $4.77. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $1.55 billion, a P/E ratio of -8.08 and a beta of 1.55. The stock's 50-day moving average price is $2.41 and its 200-day moving average price is $3.20.

About Clarivate

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.