S&P 500   4,532.76
DOW   35,028.65
QQQ   366.48
S&P 500   4,532.76
DOW   35,028.65
QQQ   366.48
S&P 500   4,532.76
DOW   35,028.65
QQQ   366.48
S&P 500   4,532.76
DOW   35,028.65
QQQ   366.48

Clearwater Analytics (NYSE:CWAN) Trading Down 7.1% Following Analyst Downgrade

Friday, January 14, 2022 | MarketBeat

Clearwater Analytics Holdings Inc (NYSE:CWAN)'s share price was down 7.1% during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $25.00 to $22.00. Piper Sandler currently has a neutral rating on the stock. Clearwater Analytics traded as low as $16.88 and last traded at $16.88. Approximately 5,506 shares changed hands during trading, a decline of 99% from the average daily volume of 483,808 shares. The stock had previously closed at $18.17.

Several other analysts also recently weighed in on CWAN. Zacks Investment Research downgraded Clearwater Analytics from a "buy" rating to a "hold" rating in a research note on Tuesday, January 4th. Wells Fargo & Company initiated coverage on shares of Clearwater Analytics in a report on Tuesday, October 19th. They issued an "overweight" rating and a $28.00 price target for the company. Morgan Stanley began coverage on shares of Clearwater Analytics in a report on Tuesday, October 19th. They set an "equal weight" rating and a $26.00 price objective on the stock. The Goldman Sachs Group assumed coverage on Clearwater Analytics in a report on Tuesday, October 19th. They issued a "neutral" rating and a $23.00 price target for the company. Finally, JPMorgan Chase & Co. started coverage on Clearwater Analytics in a report on Tuesday, October 19th. They set an "overweight" rating and a $31.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $26.00.

In related news, major shareholder Durable Capital Partners Lp acquired 21,287 shares of the company's stock in a transaction that occurred on Wednesday, November 17th. The stock was acquired at an average price of $22.42 per share, for a total transaction of $477,254.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 639,044 shares of company stock worth $14,306,970 over the last 90 days.

A number of hedge funds have recently made changes to their positions in the business. Hudson Bay Capital Management LP acquired a new position in shares of Clearwater Analytics in the third quarter valued at approximately $1,319,000. UBS Asset Management Americas Inc. bought a new stake in Clearwater Analytics in the 3rd quarter valued at $7,683,000. Schonfeld Strategic Advisors LLC bought a new stake in Clearwater Analytics in the 3rd quarter valued at $2,663,000. Captrust Financial Advisors bought a new position in Clearwater Analytics during the 3rd quarter worth about $50,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Clearwater Analytics in the 3rd quarter valued at about $17,051,000. Hedge funds and other institutional investors own 20.68% of the company's stock.

The company has a debt-to-equity ratio of 0.21, a current ratio of 9.46 and a quick ratio of 9.46. The firm has a 50-day moving average price of $21.35.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, November 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.02 by ($0.07). The company had revenue of $64.49 million during the quarter, compared to analyst estimates of $61.89 million. On average, equities research analysts predict that Clearwater Analytics Holdings Inc will post 0.05 EPS for the current fiscal year.

About Clearwater Analytics (NYSE:CWAN)

Clearwater Analytics Holdings Inc is a provider of SaaS-based investment accounting, reporting and analytics solutions. Clearwater Analytics Holdings Inc is based in BOISE, Idaho.

See Also: What are the qualifications of a portfolio manager?

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 [email protected]

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