Clearwater Analytics price target raised to $30 from $20 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Clearwater Analytics to $30 from $20 and keeps an Equal Weight rating on the shares. Revenue should accelerate with rate cuts that flow through at about 100% incremental margins, says the analyst. While acknowledging that published numbers for next year “seem too low,” pricing resistance from customers leaves the firm “a bit more cautious on the magnitude of medium-term NRR uplift,” the analyst tells investors.