In a report released today, Arvind Ramnani from Piper Sandler maintained a Hold rating on Clearwater Analytics Holdings (CWAN – Research Report), with a price target of $20.00. The company’s shares closed yesterday at $19.44.
According to TipRanks, Ramnani is a 2-star analyst with an average return of -0.1% and a 49.53% success rate. Ramnani covers the Technology sector, focusing on stocks such as Globant SA, Epam Systems, and Thoughtworks Holding.
Clearwater Analytics Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $22.60, implying a 16.26% upside from current levels. In a report released today, J.P. Morgan also downgraded the stock to a Hold with a $22.00 price target.
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Based on Clearwater Analytics Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $94.66 million and a GAAP net loss of $1.89 million. In comparison, last year the company earned a revenue of $76.55 million and had a GAAP net loss of $2.97 million
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. Most recently, in December 2023, Galibier Purchaser, LLC, a Director at CWAN sold 3,689,812.00 shares for a total of $72,873,787.00.
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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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