Oppenheimer Cuts Clearwater Analytics (NYSE:CWAN) Price Target to $36.00

Clearwater Analytics (NYSE:CWAN - Free Report) had its price objective cut by Oppenheimer from $40.00 to $36.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently issued reports on CWAN. Morgan Stanley restated an "overweight" rating and issued a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Royal Bank of Canada upped their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Piper Sandler reduced their price objective on shares of Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. UBS Group upped their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group assumed coverage on shares of Clearwater Analytics in a research note on Monday, May 19th. They set a "neutral" rating and a $26.00 price objective on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics presently has an average rating of "Moderate Buy" and an average target price of $32.00.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock traded down $0.30 on Wednesday, hitting $22.80. The company's stock had a trading volume of 2,042,536 shares, compared to its average volume of 2,899,870. Clearwater Analytics has a 52-week low of $17.63 and a 52-week high of $35.71. The company has a market capitalization of $6.46 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 8.23 and a beta of 0.77. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $23.03 and a 200-day moving average price of $26.50.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The firm had revenue of $126.86 million for the quarter, compared to analyst estimates of $125.11 million. During the same quarter in the prior year, the company earned $0.10 EPS. Clearwater Analytics's revenue was up 23.5% on a year-over-year basis. On average, equities research analysts expect that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction on Monday, March 17th. The shares were sold at an average price of $26.58, for a total transaction of $497,046.00. Following the transaction, the chief financial officer now owns 358,502 shares in the company, valued at approximately $9,528,983.16. The trade was a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen A. Corbet sold 12,634 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total value of $298,920.44. Following the transaction, the director now owns 14,498 shares in the company, valued at approximately $343,022.68. This represents a 46.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,034 shares of company stock valued at $3,598,245 over the last quarter. Company insiders own 3.31% of the company's stock.

Hedge Funds Weigh In On Clearwater Analytics

Institutional investors have recently made changes to their positions in the business. Nvwm LLC acquired a new stake in shares of Clearwater Analytics during the 1st quarter valued at approximately $46,000. Arcadia Investment Management Corp MI purchased a new position in shares of Clearwater Analytics in the fourth quarter worth approximately $57,000. Quarry LP grew its stake in Clearwater Analytics by 979.4% during the 1st quarter. Quarry LP now owns 2,094 shares of the company's stock valued at $56,000 after acquiring an additional 1,900 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Clearwater Analytics during the fourth quarter valued at approximately $82,000. Finally, CWM LLC grew its stake in Clearwater Analytics by 714.6% in the first quarter. CWM LLC now owns 3,071 shares of the company's stock valued at $82,000 after purchasing an additional 2,694 shares in the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Company Profile

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.