Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Given Average Recommendation of "Buy" by Analysts

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) has received a consensus rating of "Buy" from the nine ratings firms that are presently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $32.6667.

A number of research firms have recently commented on CWAN. Wells Fargo & Company dropped their price objective on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. DA Davidson dropped their price objective on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Oppenheimer dropped their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th. The Goldman Sachs Group raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective for the company in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They set an "overweight" rating and a $28.00 price objective for the company.

Clearwater Analytics Trading Up 2.2%

Shares of CWAN stock opened at $19.67 on Tuesday. The firm has a 50-day moving average price of $21.39 and a 200 day moving average price of $24.00. Clearwater Analytics has a twelve month low of $17.98 and a twelve month high of $35.71. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 4.53 and a beta of 0.73. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The firm had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. During the same period in the previous year, the firm posted $0.10 EPS. The company's revenue for the quarter was up 70.4% compared to the same quarter last year. Research analysts forecast that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, insider Subi Sethi sold 7,358 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $159,447.86. Following the completion of the transaction, the insider owned 218,788 shares in the company, valued at $4,741,135.96. This represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $22.15, for a total value of $1,107,500.00. Following the completion of the transaction, the chief executive officer owned 895,663 shares of the company's stock, valued at approximately $19,838,935.45. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,748 shares of company stock worth $4,549,748. Company insiders own 3.31% of the company's stock.

Hedge Funds Weigh In On Clearwater Analytics

A number of institutional investors and hedge funds have recently bought and sold shares of CWAN. Norges Bank purchased a new position in Clearwater Analytics in the 2nd quarter worth approximately $106,504,000. Hood River Capital Management LLC purchased a new position in shares of Clearwater Analytics during the 2nd quarter valued at approximately $99,105,000. Vanguard Group Inc. boosted its stake in shares of Clearwater Analytics by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after buying an additional 2,366,715 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Clearwater Analytics during the 1st quarter valued at approximately $56,648,000. Finally, Nuveen LLC purchased a new position in shares of Clearwater Analytics during the 1st quarter valued at approximately $53,894,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

About Clearwater Analytics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.