RBC Capital lowered the firm’s price target on Clearwater Analytics (CWAN) to $30 from $36 but keeps an Outperform rating on the shares after its announced Enfusion (ENFN) merger. The addition of Enfusion’s cloud-native, front-office stack is a significant milestone in Clearwater’s journey in becoming a front-to-back office platform, the analyst tells investors in a research note. Clearwater’s customers view the company as a strategic, trusted partner, and many will be willing to spend more as the capabilities are integrated, the firm adds.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CWAN:
- Clearwater Analytics upgraded to Buy at DA Davidson on ‘strategic’ Enfusion deal
- Clearwater Analytics upgraded to Buy from Neutral at DA Davidson
- Enfusion downgraded to Equal Weight from Overweight at Morgan Stanley
- BofA moves to No Rating on Enfusion after Clearwater Analytics deal
- Clearwater-Enfusion merger makes sense strategically, says Oppenheimer