Clearwater Analytics (NYSE:CWAN) Price Target Increased to $30.00 by Analysts at Morgan Stanley

Clearwater Analytics (NYSE:CWAN) had its target price boosted by Morgan Stanley from $20.00 to $30.00 in a report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also issued reports on CWAN. Citigroup assumed coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada lifted their target price on shares of Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Piper Sandler restated a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a research note on Monday, September 9th. Finally, Oppenheimer raised their price target on shares of Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Clearwater Analytics currently has an average rating of “Moderate Buy” and an average price target of $25.67.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock opened at $27.14 on Thursday. The company has a market capitalization of $6.67 billion, a PE ratio of -339.25, a P/E/G ratio of 9.16 and a beta of 0.62. The company has a 50-day simple moving average of $24.57 and a two-hundred day simple moving average of $20.72. Clearwater Analytics has a one year low of $15.62 and a one year high of $27.16. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The company had revenue of $106.79 million during the quarter, compared to analysts’ expectations of $105.51 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Clearwater Analytics’s revenue for the quarter was up 18.8% compared to the same quarter last year. Research analysts expect that Clearwater Analytics will post 0.14 EPS for the current fiscal year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total transaction of $489,192.00. Following the sale, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at approximately $5,860,991.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CRO Scott Stanley Erickson sold 3,890 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $25.38, for a total value of $98,728.20. Following the completion of the transaction, the executive now directly owns 6,373 shares in the company, valued at $161,746.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total transaction of $489,192.00. Following the sale, the chief financial officer now owns 224,044 shares in the company, valued at approximately $5,860,991.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,879,543 shares of company stock worth $247,145,339 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Blair William & Co. IL increased its stake in shares of Clearwater Analytics by 1.6% in the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock valued at $786,000 after purchasing an additional 680 shares in the last quarter. Arizona State Retirement System increased its position in shares of Clearwater Analytics by 2.1% in the second quarter. Arizona State Retirement System now owns 40,894 shares of the company’s stock valued at $757,000 after buying an additional 828 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after buying an additional 1,234 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Clearwater Analytics by 389.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock valued at $34,000 after buying an additional 1,549 shares in the last quarter. Finally, RiverPark Advisors LLC grew its stake in Clearwater Analytics by 33.1% in the 2nd quarter. RiverPark Advisors LLC now owns 7,140 shares of the company’s stock valued at $132,000 after acquiring an additional 1,774 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

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.