RBC Capital raised the firm’s price target on Clearwater Analytics (CWAN) to $36 from $30 and keeps an Outperform rating on the shares. The company reported strong Q4 results, marked by 25% annual recurring revenue growth and net retention reaching 116%, and while the quarter benefited from some nonrecurring business, excluding this, revenue would have still been well ahead of consensus, the analyst tells investors in a research note.
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