Clearwater Analytics (NYSE:CWAN) Issues Earnings Results, Beats Estimates By $0.01 EPS

Clearwater Analytics (NYSE:CWAN) issued its quarterly earnings data on Wednesday. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01, Briefing.com reports. Clearwater Analytics had a positive return on equity of 1.26% and a negative net margin of 3.90%. The company had revenue of $102.70 million during the quarter, compared to analyst estimates of $100.55 million. During the same period in the prior year, the business posted $0.07 earnings per share. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. Clearwater Analytics updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Clearwater Analytics Stock Performance

CWAN traded up $0.49 on Friday, hitting $17.67. 1,563,888 shares of the company traded hands, compared to its average volume of 1,079,200. Clearwater Analytics has a 12-month low of $13.02 and a 12-month high of $21.89. The company has a 50 day moving average of $17.01 and a 200-day moving average of $18.68. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $4.32 billion, a PE ratio of -220.75, a PEG ratio of 6.82 and a beta of 0.50.

Wall Street Analyst Weigh In

CWAN has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $20.00 target price on shares of Clearwater Analytics in a research report on Thursday, February 29th. JPMorgan Chase & Co. decreased their target price on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $19.00 target price on shares of Clearwater Analytics in a research report on Thursday. Wells Fargo & Company reduced their price target on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, DA Davidson restated a “buy” rating and issued a $24.00 price objective on shares of Clearwater Analytics in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.70.

Insider Activity

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total value of $987,000.00. Following the transaction, the chief executive officer now directly owns 270,838 shares of the company’s stock, valued at approximately $5,346,342.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $16.90, for a total value of $274,625,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $19.74, for a total value of $987,000.00. Following the transaction, the chief executive officer now directly owns 270,838 shares in the company, valued at approximately $5,346,342.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,310,000 shares of company stock valued at $275,809,400. Company insiders own 2.10% of the company’s stock.

Clearwater Analytics Company Profile

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.