On Nov 07, major Wall Street analysts update their ratings for $Clearwater Analytics (CWAN.US)$, with price targets ranging from $32 to $35.
J.P. Morgan analyst Alexei Gogolev upgrades to a buy rating, and adjusts the target price from $23 to $33.
Wells Fargo analyst Michael Turrin maintains with a buy rating, and adjusts the target price from $23 to $33.
Oppenheimer analyst Brian Schwartz maintains with a buy rating, and adjusts the target price from $31 to $35.
RBC Capital analyst Rishi Jaluria maintains with a buy rating, and adjusts the target price from $28 to $32.
William Blair analyst Dylan Becker maintains with a buy rating.
Furthermore, according to the comprehensive report, the opinions of $Clearwater Analytics (CWAN.US)$'s main analysts recently are as follows:
Following a robust Q3 report, it was noted that the surge in recurring revenue to 114% was unexpected and primarily fuelled by the integration of new products and minimal customer attrition. Demand at the initial stages seems to be increasingly robust and was notably widespread among different client types and regions. It is believed that the substantial valuation premium compared to peers is warranted by an alluring mix of high sales growth, enhancing profitability, and gains in market share.
Clearwater Analytics displayed an impressive third quarter, marked by robust bookings, a significant increase in EBITDA, record free cash flow, and accelerating business growth. The outlook for the company remains positive with expectations of sustained bookings strength for both new and expanding customer relationships, spurred by effective sales productivity and the introduction of multiple new product cycles that are beginning to see success, as evidenced by the third-quarter results and continued operating leverage.
Here are the latest investment ratings and price targets for $Clearwater Analytics (CWAN.US)$ from 5 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.