Clarivate (NYSE:CLVT) PT Lowered to $7.50 at The Goldman Sachs Group

Clarivate (NYSE:CLVT - Free Report) had its price target lowered by The Goldman Sachs Group from $8.50 to $7.50 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also weighed in on CLVT. Oppenheimer decreased their price objective on Clarivate from $11.00 to $10.00 and set an outperform rating on the stock in a report on Wednesday, February 28th. Morgan Stanley cut their price target on Clarivate from $9.00 to $8.00 and set an equal weight rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada lowered their price objective on Clarivate from $10.00 to $8.00 and set a sector perform rating on the stock in a research note on Wednesday, February 28th. Finally, Barclays cut their target price on Clarivate from $7.00 to $6.00 and set an underweight rating for the company in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $7.78.

Clarivate Price Performance

Shares of CLVT stock traded up $0.08 during trading hours on Thursday, hitting $6.24. 3,430,807 shares of the company's stock were exchanged, compared to its average volume of 4,105,729. Clarivate has a fifty-two week low of $6.07 and a fifty-two week high of $10.03. The firm has a market cap of $4.17 billion, a P/E ratio of -4.16, a P/E/G ratio of 1.41 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average of $7.15 and a two-hundred day moving average of $7.87.

Clarivate (NYSE:CLVT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 earnings per share for the quarter, hitting analysts' consensus estimates of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The company had revenue of $683.70 million during the quarter, compared to analysts' expectations of $687.80 million. During the same period in the prior year, the business posted $0.20 earnings per share. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts forecast that Clarivate will post 0.62 EPS for the current year.

Hedge Funds Weigh In On Clarivate

Hedge funds have recently bought and sold shares of the company. Exor N.V. increased its stake in Clarivate by 2.4% during the first quarter. Exor N.V. now owns 67,294,884 shares of the company's stock worth $500,001,000 after purchasing an additional 1,566,519 shares during the period. Clarkston Capital Partners LLC boosted its position in Clarivate by 12.0% in the 3rd quarter. Clarkston Capital Partners LLC now owns 57,567,115 shares of the company's stock valued at $386,275,000 after buying an additional 6,172,694 shares during the period. Impactive Capital LP grew its stake in Clarivate by 15.7% during the 3rd quarter. Impactive Capital LP now owns 33,108,919 shares of the company's stock worth $222,161,000 after purchasing an additional 4,500,000 shares in the last quarter. Baupost Group LLC MA boosted its stake in shares of Clarivate by 13.3% in the 4th quarter. Baupost Group LLC MA now owns 25,500,000 shares of the company's stock valued at $236,130,000 after buying an additional 3,000,000 shares during the period. Finally, Glenview Capital Management LLC grew its position in shares of Clarivate by 22.2% during the fourth quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company's stock worth $228,269,000 after buying an additional 4,472,302 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company's stock.

Clarivate Company Profile

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.