The Goldman Sachs Group Issues Positive Forecast for Clearwater Analytics (NYSE:CWAN) Stock Price

Clearwater Analytics (NYSE:CWAN - Free Report) had its target price boosted by The Goldman Sachs Group from $20.00 to $22.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a sell rating on the stock.

CWAN has been the subject of a number of other research reports. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $23.00 to $33.00 in a research report on Thursday. Wells Fargo & Company increased their target price on Clearwater Analytics from $23.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday. Piper Sandler upped their price target on Clearwater Analytics from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday. Royal Bank of Canada raised their price objective on shares of Clearwater Analytics from $28.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Morgan Stanley upped their target price on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Clearwater Analytics has a consensus rating of "Moderate Buy" and a consensus target price of $28.90.

Clearwater Analytics Stock Up 14.7 %

Shares of CWAN traded up $4.19 during trading hours on Thursday, hitting $32.77. 6,549,018 shares of the company were exchanged, compared to its average volume of 1,471,997. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. The company has a market cap of $8.07 billion, a PE ratio of -1,638.50, a PEG ratio of 9.53 and a beta of 0.61. The firm's 50 day moving average is $25.64 and its 200-day moving average is $21.85. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The company had revenue of $115.83 million for the quarter, compared to the consensus estimate of $113.37 million. On average, equities research analysts forecast that Clearwater Analytics will post 0.14 EPS for the current fiscal year.

Insider Activity

In other news, CFO James S. Cox sold 13,700 shares of the 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 completion of the transaction, the chief financial officer now directly owns 232,503 shares of the company's stock, valued at approximately $5,496,370.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total transaction of $92,387.50. Following the sale, the executive now directly owns 4,844 shares of the company's stock, valued at approximately $115,045. This represents 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 link. Also, CFO James S. Cox sold 13,700 shares of Clearwater Analytics stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $23.64, for a total transaction of $323,868.00. Following the completion of the transaction, the chief financial officer now owns 232,503 shares of the company's stock, valued at $5,496,370.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,864,693 shares of company stock worth $45,128,342. Corporate insiders own 3.46% of the company's stock.

Institutional Investors Weigh In On Clearwater Analytics

A number of hedge funds and other institutional investors have recently bought and sold shares of CWAN. Advisors Asset Management Inc. grew its holdings in shares of Clearwater Analytics by 268.8% during the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company's stock worth $30,000 after purchasing an additional 1,234 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Clearwater Analytics during the 3rd quarter worth about $45,000. Financial Management Professionals Inc. bought a new stake in Clearwater Analytics during the 3rd quarter worth about $58,000. Benjamin F. Edwards & Company Inc. increased its position in Clearwater Analytics by 124.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company's stock valued at $81,000 after acquiring an additional 2,425 shares in the last quarter. Finally, Amalgamated Bank bought a new position in shares of Clearwater Analytics in the second quarter worth about $90,000. 50.10% of the stock is 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.