William Blair analyst Dylan Becker has maintained their bullish stance on CWAN stock, giving a Buy rating yesterday.
Dylan Becker has given his Buy rating due to a combination of factors including Clearwater Analytics Holdings’ performance, which surpassed expectations in terms of revenue and EBITDA in the most recent quarter. This outperformance was driven by robust deal momentum and significant client expansion, especially within the segment contributing more than $1 million in annual recurring revenue, which saw a notable 28% growth over the year.
Clearwater’s outlook, although slightly conservative on the top-line growth, anticipates stronger profitability. The company’s commitment to investing in its go-to-market strategies and ongoing product development is expected to yield positive results in the latter part of the year and into the next. With a net-dollar retention rate of 107% and continued investment in platform innovation, Clearwater is strategically positioned to take advantage of the growing digitization trend in investment accounting, leveraging its unified data asset to capture more market share and expand its total addressable market. Becker’s recommendation reflects confidence in Clearwater’s potential for sustained growth and profitability.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $24.00 price target.
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Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CWAN in relation to earlier this year.
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Clearwater Analytics Holdings (CWAN) Company Description:
Clearwater Analytics Holdings Inc provides investment accounting and reporting, performance measurement, compliance monitoring, and risk analytics solutions for asset managers, insurance companies, and large corporations. Its cloud-native software allows clients to radically simplify their investment accounting operations, enabling them to focus on higher-value business functions such as asset allocation strategy and investment selection.
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