D.A. Davidson analyst Peter Heckmann downgrades $Clearwater Analytics (CWAN.US)$ to a hold rating.
According to TipRanks data, the analyst has a success rate of 62.1% and a total average return of 15.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Clearwater Analytics (CWAN.US)$'s main analysts recently are as follows:
After a 'strong' Q3 report, there was an unexpected surge in recurring revenue to 114%, spurred by new product contributions and minimal customer turnover. The demand at the top of the funnel seems increasingly robust and was unanticipatedly widespread across various customer types and regions. It's believed that the 'significant valuation premium to peers' is warranted due to a compelling mix of high sales growth, enhanced profitability, and market share expansion.
Clearwater Analytics exhibited a remarkable third quarter, characterized by substantial bookings, a significant beat on EBITDA projections, the highest free cash flow to date, and a resurgence in business expansion. The positive stance on Clearwater is underpinned by the expectation of sustained strong bookings, both from new customers and expansion of existing accounts, which is attributed to effective sales productivity and the success of several new product cycles, as evidenced by the Q3 outcomes, along with continued operational leverage.
Note:
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