Clearwater Analytics Holdings Inc. [NYSE: CWAN] price plunged by -7.64 percent to reach at -$1.23. The company report on March 8, 2023 that Clearwater Analytics Announces Pricing of Secondary Offering of Class A Common Stock.
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Clearwater Analytics Holdings, Inc. (“Clearwater Analytics” or the “Company”) (NYSE: CWAN), a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, today announced the pricing of its underwritten secondary public offering of its Class A common stock priced at a price to the public of $15.00 per share. The offering consists of 13,000,000 shares of Class A common stock to be sold by certain affiliates of Welsh, Carson, Anderson & Stowe (collectively, the “Selling Stockholders”). The Company will not receive any proceeds from the sale of the Company’s Class A common stock by the Selling Stockholders. The Selling Stockholders also granted the underwriters a 30-day option to purchase up to an additional 1,950,000 shares of Class A common stock at the public offering price, less underwriting discounts and commissions. The Company’s Class A common stock is listed on the New York Stock Exchange under the ticker symbol “CWAN.” The offering is expected to close on March 13, 2023, subject to customary closing conditions.
J.P. Morgan is acting as lead bookrunner and representative of the underwriters for the offering, with Morgan Stanley, Goldman Sachs & Co. LLC, RBC Capital Markets, SVB Securities, Wells Fargo Securities, Credit Suisse, William Blair, Oppenheimer & Co. and Piper Sandler acting as additional bookrunners for the offering. D.A. Davidson & Co., Loop Capital Markets, AmeriVet Securities, Penserra Securities LLC, R. Seelaus & Co., LLC and Siebert Williams Shank are acting as comanagers for the offering.
A sum of 10225769 shares traded at recent session while its average daily volume was at 438.98K shares. Clearwater Analytics Holdings Inc. shares reached a high of $15.32 and dropped to a low of $14.6101 until finishing in the latest session at $14.88.
The one-year CWAN stock forecast points to a potential upside of 26.04. The average equity rating for CWAN stock is currently 2.50, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Clearwater Analytics Holdings Inc. [CWAN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CWAN shares is $20.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CWAN stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Oppenheimer have made an estimate for Clearwater Analytics Holdings Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on January 12, 2023. While these analysts kept the previous recommendation, Goldman dropped their target price from $23 to $12. The new note on the price target was released on July 13, 2022, representing the official price target for Clearwater Analytics Holdings Inc. stock.
The Average True Range (ATR) for Clearwater Analytics Holdings Inc. is set at 0.69, with the Price to Sales ratio for CWAN stock in the period of the last 12 months amounting to 11.37. The Price to Book ratio for the last quarter was 11.36, with the Price to Cash per share for the same quarter was set at 1.26. Price to Free Cash Flow for CWAN in the course of the last twelve months was 90.51 with Quick ratio for the last quarter at 10.50.
CWAN Stock Performance Analysis:
Clearwater Analytics Holdings Inc. [CWAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.99. With this latest performance, CWAN shares dropped by -23.93% in over the last four-week period, additionally sinking by -5.76% over the last 6 months – not to mention a drop of -20.34% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CWAN stock in for the last two-week period is set at 21.08, with the RSI for the last a single of trading hit 15.95, and the three-weeks RSI is set at 26.13 for Clearwater Analytics Holdings Inc. [CWAN]. The present Moving Average for the last 50 days of trading for this stock 18.48, while it was recorded at 16.19 for the last single week of trading, and 16.20 for the last 200 days.
Insight into Clearwater Analytics Holdings Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Clearwater Analytics Holdings Inc. [CWAN] shares currently have an operating margin of +1.72 and a Gross Margin at +70.46. Clearwater Analytics Holdings Inc.’s Net Margin is presently recorded at -2.63.
Return on Equity for this stock declined to -3.42, with Return on Assets sitting at -1.93.
Clearwater Analytics Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.50 and a Current Ratio set at 10.50.
CWAN Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CWAN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Clearwater Analytics Holdings Inc. go to 20.00%.
Clearwater Analytics Holdings Inc. [CWAN] Insider Position Details
There are presently around $1,435 million, in the hands of institutional investors. The top three institutional holders of CWAN stocks are: WARBURG PINCUS LLC with ownership of 33,222,826, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; DURABLE CAPITAL PARTNERS LP, holding 9,675,988 shares of the stock with an approximate value of $143.98 million in CWAN stocks shares; and KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC, currently with $81.54 million in CWAN stock with ownership of nearly -2.574% of the company’s market capitalization.
Positions in Clearwater Analytics Holdings Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 68 institutional holders increased their position in Clearwater Analytics Holdings Inc. [NYSE:CWAN] by around 6,466,527 shares. Additionally, 32 investors decreased positions by around 3,445,106 shares, while 9 investors held positions by with 86,513,353 shares. The mentioned changes placed institutional holdings at 96,424,986 shares, according to the latest SEC report filing. CWAN stock had 21 new institutional investments in for a total of 1,472,439 shares, while 8 institutional investors sold positions of 66,022 shares during the same period.