Clarivate PLC (NYSE:CLVT) Stock Has Consensus Target Price of $2.65 According to Brokerages

Key Points

• Analyst sentiment is cautious: Nine analysts give Clarivate an average “Reduce” rating—three sell, five hold and one buy—with a consensus 12-month price target of $2.65.
• Recent broker moves include target cuts from Citigroup to $2.50, Stifel to $5.00 and Barclays to $2.00; Morgan Stanley initiated coverage with an “underweight” rating and a $1.50 target.
• Clarivate beat quarterly EPS estimates, reporting $0.21 versus $0.18 expected, but revenue of $481.6 million fell short of the $566.77 million consensus and was down 22.7% year over year.

Clarivate PLC (NYSE:CLVT - Get Free Report) has been given an average rating of "Reduce" by the nine analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $2.65.

Several equities research analysts recently issued reports on CLVT shares. Citigroup cut their price target on Clarivate from $2.80 to $2.50 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Morgan Stanley began coverage on shares of Clarivate in a research report on Friday, October 30th. They set an "underweight" rating and a $1.50 price objective on the stock. Stifel Nicolaus cut their price target on Clarivate from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Clarivate from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Barclays cut their target price on Clarivate from $2.50 to $2.00 and set an "underweight" rating on the stock in a research report on Thursday, July 30th.

Hedge Funds Weigh In On Clarivate

Hedge funds have recently modified their holdings of the stock. First Trust Advisors LP boosted its stake in Clarivate by 10.3% in the 1st quarter. First Trust Advisors LP now owns 5,522,601 shares of the company's stock valued at $13,972,000 after buying an additional 516,418 shares in the last quarter. KBC Group NV acquired a new stake in shares of Clarivate during the first quarter worth $4,118,000. Arrowstreet Capital Limited Partnership bought a new position in Clarivate during the 1st quarter valued at $3,342,000. Empowered Funds LLC lifted its stake in shares of Clarivate by 418.6% during the 1st quarter. Empowered Funds LLC now owns 2,015,829 shares of the company's stock valued at $5,100,000 after buying an additional 1,627,159 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Clarivate during the 1st quarter valued at about $1,159,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Stock Performance

CLVT opened at $2.33 on Friday. The stock's 50 day simple moving average is $1.82 and its 200 day simple moving average is $2.20. Clarivate has a 1-year low of $1.42 and a 1-year high of $3.87. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $1.49 billion, a P/E ratio of -3.83 and a beta of 1.38.

Clarivate (NYSE:CLVT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $481.60 million for the quarter, compared to analysts' expectations of $566.77 million. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%. The firm's revenue for the quarter was down 22.7% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS. As a group, equities analysts anticipate that Clarivate will post 0.64 EPS for the current fiscal year.

About Clarivate

Clarivate Plc NYSE: CLVT provides analytics, data, and workflow solutions to organizations in academia, government, research, life sciences, and intellectual property. Its offerings are designed to help customers evaluate research, manage information, accelerate innovation, and support strategic decision-making.

The company's products include Web of Science research databases and citation analytics, InCites research evaluation tools, Derwent innovation and patent intelligence services, and Cortellis life sciences and drug-development information.

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