Clearwater Analytics upgraded to Buy from Hold at Loop Capital

Loop Capital upgraded Clearwater Analytics to Buy from Hold with a price target of $25, up from $20. THe analyst is “incrementally more positive” about the company’s near-term and long-term growth prospects following industry checks, positive feedback from last week’s user group conference and implied growth framework from Clearwater’s investor day event earlier in the month. The company is well positioned to accelerate its revenue growth driven by its target customers’ need to better manage an increasing mix of alternative investment assets, which is driving its customers to standardize on a Clearwater Analytics platform, the analyst tells investors in a research note.