Barrington keeps an Outperform rating and $14 price target on CCC Intelligent Solutions after its Q2 earnings and guidance reported yesterday. The company delivered a solid quarter of financial results driven by the mission-critical nature of its product line and the predictability of its recurring revenue contractual business model, the analyst tells investors in a research note. The firm is also positive on CCC’s network breadth with over 35K customers, calling it the company’s “strong competitive advantage”.
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Read More on CCCS:
- CCC Intelligent Solutions price target raised to $13 from $12 at Barclays
- CCC Intelligent Solutions sees FY23 revenue $851M-$855M, consensus $848.2M
- CCC Intelligent Solutions sees Q3 revenue $215M-$217M, consensus $214.8M
- CCC Intelligent Solutions reports Q2 adjusted EPS 7c, consensus 7c
- Is CCCS a Buy, Before Earnings?