Clearwater (CWAN) Soars 10% on Bargain-Hunting After 52-Week Low

We recently published 10 Stocks on a Hot Streak. Clearwater Analytics Holdings Inc. (NYSE:CWAN) is one of the best-performing stocks on Tuesday.

Clearwater jumped by 10.25 percent on Tuesday to close at $18.40 apiece, as investors resorted to bargain-hunting after falling to a 52-week low last week.

From November 7 to 11, Clearwater Analytics Holdings Inc. (NYSE:CWAN) recouped its gains after falling to a 52-week low of $15.73 on November 6.

Copyright: bee32 / 123RF Stock Photo

This followed its third-quarter earnings performance on November 5, where it nosedived to a $10.3 million attributable net loss from a $3.6 million attributable net income in the same period last year.

Revenues, on the other hand, jumped by 77 percent to $205 million from $115.8 million in the same comparable period, beating its guidance of $203 million to $204 million.

For the full-year period, Clearwater Analytics Holdings Inc. (NYSE:CWAN) expects revenues to end at $730 million to $731 million, or an implied year-on-year growth of 62 percent.

In the fourth quarter alone, revenues are targeted at a range of $216 million to $217 million, or a year-on-year growth of 71 to 72 percent.

“Q3 was our first quarter as an integrated company and we demonstrated strong execution and financial performance, with quarterly revenue of $205.1 million, up 77% year-over-year. Our single instance, single security master architecture allows Gen AI models and agents to learn very quickly, helping us drive very strong growth in unit economics,” said Clearwater Analytics Holdings Inc. (NYSE:CWAN) CEO Sandeep Sahai.

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Disclosure: None. This article is originally published at Insider Monkey.