Clearwater Analytics (NYSE:CWAN) Price Target Raised to $35.00 at Oppenheimer

Clearwater Analytics (NYSE:CWAN) had its target price lifted by equities researchers at Oppenheimer from $31.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 5.80% from the stock’s current price.

Other analysts have also issued reports about the company. Morgan Stanley lifted their price target on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada lifted their price target on Clearwater Analytics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. The Goldman Sachs Group lifted their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Thursday. Finally, Piper Sandler lifted their price objective on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.90.

Clearwater Analytics Stock Up 15.7 %

Clearwater Analytics stock traded up $4.50 during midday trading on Thursday, reaching $33.08. The company’s stock had a trading volume of 5,131,583 shares, compared to its average volume of 1,465,435. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The stock has a market capitalization of $8.15 billion, a P/E ratio of -1,654.00, a PEG ratio of 9.53 and a beta of 0.61. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. The stock’s 50-day simple moving average is $25.48 and its 200-day simple moving average is $21.78.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, November 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $115.83 million for the quarter, compared to analyst estimates of $113.37 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. On average, sell-side analysts expect that Clearwater Analytics will post 0.14 EPS for the current year.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 13,700 shares of Clearwater Analytics 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 of the company’s stock, valued at $5,496,370.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Clearwater Analytics news, CFO James S. Cox sold 13,700 shares of Clearwater Analytics stock in a transaction that occurred on 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 directly owns 232,503 shares in the company, valued at approximately $5,496,370.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total value of $92,387.50. Following the completion of the transaction, the executive now owns 4,844 shares in the company, valued at $115,045. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,864,693 shares of company stock valued at $45,128,342. Corporate insiders own 3.46% of the company’s stock.

Institutional Trading of Clearwater Analytics

A number of institutional investors have recently modified their holdings of CWAN. Advisors Asset Management Inc. boosted its stake in shares of Clearwater Analytics by 268.8% in the first 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. Whittier Trust Co. of Nevada Inc. acquired a new position in Clearwater Analytics during the third quarter worth $45,000. Financial Management Professionals Inc. acquired a new position in shares of Clearwater Analytics in the third quarter worth $58,000. Benjamin F. Edwards & Company Inc. increased its stake in Clearwater Analytics by 124.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after purchasing an additional 2,425 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in Clearwater Analytics during the second quarter valued at about $90,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

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.