Oppenheimer Forecasts Strong Price Appreciation for Clearwater Analytics (NYSE:CWAN) Stock

Clearwater Analytics (NYSE:CWAN) had its price target raised by Oppenheimer from $31.00 to $35.00 in a research note published on Thursday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $23.00 to $33.00 in a research note on Thursday. Wells Fargo & Company lifted their target price on shares of Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday. The Goldman Sachs Group raised their price target on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a report on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of Clearwater Analytics from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.67.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock traded down $0.89 during trading hours on Thursday, reaching $31.90. 2,838,122 shares of the company’s stock were exchanged, compared to its average volume of 1,478,293. The business has a fifty day moving average of $25.64 and a two-hundred day moving average of $21.85. 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 company has a market capitalization of $7.86 billion, a P/E ratio of -1,638.50, a price-to-earnings-growth ratio of 9.53 and a beta of 0.61. Clearwater Analytics has a 1 year low of $15.62 and a 1 year high of $35.71.

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

Insider Buying and Selling

In other news, CFO James S. Cox sold 13,700 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $23.64, for a total value of $323,868.00. Following the transaction, the chief financial officer now owns 232,503 shares in the company, valued at approximately $5,496,370.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the business’s 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 sale, the chief financial officer now owns 224,044 shares in the company, valued at approximately $5,860,991.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 13,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total transaction of $323,868.00. Following the transaction, the chief financial officer now owns 232,503 shares in the company, valued at approximately $5,496,370.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,864,693 shares of company stock worth $45,128,342. Corporate insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Thornburg Investment Management Inc. raised its position in Clearwater Analytics by 31.7% during the 1st quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock worth $5,860,000 after buying an additional 79,707 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Clearwater Analytics by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock valued at $2,323,000 after purchasing an additional 23,971 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Clearwater Analytics in the first quarter valued at about $825,000. Jane Street Group LLC boosted its holdings in Clearwater Analytics by 234.2% during the first quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock worth $4,702,000 after buying an additional 186,273 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in Clearwater Analytics during the second quarter worth about $1,797,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

About Clearwater Analytics

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.