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Clearwater Analytics initiated with a Buy at UBS
The Fly

Clearwater Analytics initiated with a Buy at UBS

UBS initiated coverage of Clearwater Analytics with a Buy rating and $24 price target. The analyst launched coverage on 10 stocks in technology services software with a “selective view”. Macro uncertainty is balanced by secular shifts in customer preferences towards verticalized offerings in software, the analyst tells investors in a research not. The firm says the rate-fueled multiple compression “offers investors opportunistic entry into high-quality, mission critical software businesses” with total addressable markets growing low double-digits. UBS’s view is predicated on growing trends of specialized market entrants competing and scaling market share against horizontal incumbents.

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