Why Analysts Remain Bullish on CCC Intelligent Solutions Holdings Inc. (CCC)

CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC) is among the best NASDAQ stocks under $10 to buy. As of December 15, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC) has a ‘Buy’ or equivalent rating from around 80% of the analysts covering the stock. With a median price target of $11.50, the stock has 52.12% upside potential.

On December 12, Kirk Materne, an analyst at Evercore ISI, reaffirmed a ‘Buy’ rating on CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC), while setting a price target of $12. This reflects a potential upside of about 59%.

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On the same day, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC) announced the authorization of a new $500 million share repurchase program of the company’s outstanding common stock. This follows the existing $300 million accelerated share repurchase (ASR) program with Bank of America, which is backed by incremental term loans under its amended credit agreement. Under the terms, the company will initially receive about 33.2 million shares, reflecting nearly 80% of the anticipated total repurchase volume.

As stated by Githesh Ramamurthy, Chairman & CEO of CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC),

“Our strong balance sheet gives us the flexibility to continue to innovate for our customers and invest in the business while also delivering returns to shareholders.”

What’s more interesting is that CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC) is actively investing in the company to accelerate value creation, enhance go-to-market capabilities, strengthen client and partner relationships, and power its multisided network, as highlighted during the earnings call.

CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC) is an Illinois-based software-as-a-service (SaaS) company. Founded in 1980, the company is committed to “turning crucial moments into intelligent experiences.”

While we acknowledge the potential of CCC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CCC and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.