The Goldman Sachs Group Raises Clearwater Analytics (NYSE:CWAN) Price Target to $22.00

Clearwater Analytics (NYSE:CWAN) had its target price boosted by research analysts at The Goldman Sachs Group from $20.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 38.25% from the stock’s current price.

A number of other equities analysts also recently commented on CWAN. Piper Sandler raised their target price on shares of Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday. Oppenheimer raised their price objective on Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Morgan Stanley upped their target price on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their target price on Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Citigroup initiated coverage on Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.50.

Clearwater Analytics Trading Up 24.7 %

Shares of CWAN traded up $7.05 during mid-day trading on Thursday, hitting $35.63. The company had a trading volume of 2,533,355 shares, compared to its average volume of 1,452,582. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $35.67. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. The business’s 50-day simple moving average is $25.48 and its 200-day simple moving average is $21.78. The stock has a market cap of $8.78 billion, a PE ratio of -1,764.00, a P/E/G ratio of 9.53 and a beta of 0.61.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $115.83 million for the quarter, compared to the consensus estimate of $113.37 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. Sell-side analysts forecast that Clearwater Analytics will post 0.14 earnings per share for the current year.

Insider Transactions at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the transaction, the chief financial officer now owns 224,044 shares in the company, valued at approximately $5,860,991.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the transaction, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at approximately $5,860,991.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total transaction of $92,387.50. Following the sale, the executive now owns 4,844 shares in the company, valued at approximately $115,045. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,864,693 shares of company stock valued at $45,128,342. Insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Clearwater Analytics by 17.2% in the first quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock valued at $267,676,000 after purchasing an additional 2,219,459 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Clearwater Analytics by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock valued at $210,659,000 after acquiring an additional 128,402 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Clearwater Analytics by 0.6% during the second quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock valued at $193,178,000 after purchasing an additional 66,528 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of Clearwater Analytics by 1.6% during the third quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock valued at $171,156,000 after purchasing an additional 107,210 shares in the last quarter. Finally, Bamco Inc. NY lifted its holdings in Clearwater Analytics by 30.8% in the first quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock worth $94,804,000 after purchasing an additional 1,262,150 shares during the period. 50.10% of the stock is currently owned by institutional investors.

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.