Clearwater Analytics upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst Arvind Ramnani upgraded Clearwater Analytics (CWAN) to Overweight from Neutral with a price target of $36, up from $28. The company’s Q4 results came in well ahead of Street estimates both on revenue and margins, the analyst tells investors in a research note. The firm says a primary focus on the earnings call was the recent acquisition of Enfusion, which provides Clearwater the ability to offer clients a front-to-end data solution. Piper believes the combined companies provide a “compelling value proposition” to expand wallet share with existing clients, and drive a higher win rate with prospective clients. It also believes the company’s initial 2025 targets are conservative.