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 64.5% and a total average return of 15.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Clearwater Analytics (CWAN.US)$'s main analysts recently are as follows:
The recent 'strong' Q3 report from Clearwater Analytics has led to positive sentiments due to an unexpected surge in recurring revenue to 114%, attributed to new product contributions and minimal churn. The demand at the top of the funnel is notably stronger and has shown a surprising breadth across various customer types and geographies. Analysts hold the view that Clearwater's notable valuation premium compared to its peers is warranted by a compelling mix of high sales growth, enhanced profitability, and gains in market share.
Clearwater Analytics delivered a strong performance in Q3, highlighted by robust bookings, a significant EBITDA beat, record free cash flow, and reaccelerated business growth. The outlook remains positive with expectations of sustained bookings momentum for both new logos and expansions, attributed to effective sales productivity and the introduction of multiple new product cycles that are resonating well with customers, as evidenced by Q3 outcomes, coupled with continued operating leverage.
Note:
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