Citi initiated coverage of Clearwater Analytics with a Buy rating and $28 price target. Clearwater is an attractive vertical software play on modern investment accounting and related front-to-back tech solutions, the analyst tells investors in a research note. The firm says the company is at an “inflection point” due to its elevated new logo opportunity, multi-product transition and interest rate stability. Clearwater’s platform and opportunity breadth suggest the stock’s risk/reward skews to the upside, contends Citi.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CWAN:
- Clearwater Analytics rises 17.6%
- Clearwater Analytics sees FY24 revenue $442M-$444M, consensus $440.35M
- Clearwater Analytics sees Q3 revenue $113M-$114M, consensus $112.82M
- Clearwater Analytics reports Q2 non-GAAP EPS 12c, consensus 10c
- Clearwater Analytics Announces Second Quarter 2024 Financial Results