Oppenheimer analyst Brian Schwartz raised the firm’s price target on Clearwater Analytics (CWAN) to $35 from $31 and keeps an Outperform rating on the shares. The firm notes Clearwater Analytics had an impressive Q3, with robust bookings, an increasing EBITDA beat magnitude, record free cash flow, and reaccelerating business growth. Oppenheimer remains bullish on Clearwater given its outlook for durable bookings strength for new logos and expansions driven by good sales productivity and multiple new product cycles that are gaining traction, based on Q3 results, and ongoing operating leverage.
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 Overweight from Neutral at JPMorgan
- Clearwater Analytics Reports Strong Q3 2024 Financial Results
- Clearwater Analytics Settles Agreement and Reports Strong Q3
- Clearwater Analytics sees FY24 revenue $445.5M, consensus $443.2M
- Clearwater Analytics reports Q3 EPS 12c, consensus 11c