DA Davidson Slashes PT on Clearwater Analytics Holdings (CWAN) to $34 From $36, Keeps a Buy Rating

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) is one of the best stocks under $20 to buy for the long term. On August 12, DA Davidson lowered the firm’s price target on Clearwater Analytics Holdings, Inc. (NYSE:CWAN) to $34 from $36, keeping a Buy rating on the shares.

Is Clearwater Analytics Holdings Inc. (CWAN) the Best Low Beta Tech Stock to Buy According to Analysts?

A wide shot of a large financial data center.

The firm told investors that Clearwater Analytics Holdings, Inc. reported “strong” Q2 results, reporting 70% growth in total revenue and 74% growth in adjusted EBITDA.

The firm expects compound annual growth in adjusted EBITDA of 39%-40% between 2024 and 2027, adding that the stock’s current enterprise value to expected EBITDA multiple is considerably attractive for a high-quality, vertically-focused software company.

Clearwater Analytics Holdings, Inc. provides web-based investment portfolio accounting, reporting, and reconciliation services. The company’s operations are divided into the United States and the Rest of the World geographical segments.

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This article is originally published at Insider Monkey.