Clearwater Analytics (NYSE:CWAN) Price Target Raised to $30.00 at Morgan Stanley

Clearwater Analytics (NYSE:CWAN - Get Free Report) had its price objective raised by Morgan Stanley from $20.00 to $30.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 10.54% from the stock's previous close.

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

Clearwater Analytics Price Performance

CWAN stock traded up $0.84 during trading hours on Thursday, hitting $27.14. 1,114,894 shares of the stock traded hands, compared to its average volume of 1,457,396. The stock has a 50-day simple moving average of $24.57 and a 200 day simple moving average of $20.72. The company has a market cap of $6.67 billion, a P/E ratio of -339.38, a P/E/G ratio of 9.16 and a beta of 0.62. Clearwater Analytics has a one year low of $15.62 and a one year high of $27.16. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts' expectations of $105.51 million. During the same quarter in the previous year, the company posted ($0.03) EPS. The business's revenue was up 18.8% compared to the same quarter last year. Equities analysts forecast that Clearwater Analytics will post 0.14 earnings per share for the current year.

Insider Activity at Clearwater Analytics

In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the company's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO James S. Cox sold 14,850 shares of Clearwater Analytics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.02, for a total value of $326,997.00. Following the transaction, the chief financial officer now directly owns 232,503 shares in the company, valued at approximately $5,119,716.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $24.18, for a total value of $43,144,760.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,879,543 shares of company stock valued at $247,145,339. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Advisors Asset Management Inc. lifted 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 during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Clearwater Analytics by 389.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company's stock worth $34,000 after acquiring an additional 1,549 shares during the period. Amalgamated Bank acquired a new stake in shares of Clearwater Analytics during the 2nd quarter worth approximately $90,000. Point72 Asset Management L.P. bought a new stake in shares of Clearwater Analytics during the second quarter valued at approximately $91,000. Finally, RiverPark Advisors LLC raised its stake in shares of Clearwater Analytics by 361.0% in the first quarter. RiverPark Advisors LLC now owns 5,366 shares of the company's stock valued at $95,000 after purchasing an additional 4,202 shares in the last quarter. 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.