William Blair Affirms Hold Stance as Clarivate Plc (CLVT) Q3 Net Loss Narrows

Clarivate Plc (NYSE:CLVT) is one of the best mid cap stocks to buy according to hedge funds. On October 30, William Blair analyst Andrew Nicholas reiterated a neutral stance on the stock with a Hold rating, despite Clarivate PLC (NYSE:CLVT) delivering third-quarter results characterized by improved operational and financial performance.

William Blair Affirms Hold Stance as Clarivate Plc (CLVT) Q3 Net Loss Narrows

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Revenues in the quarter totaled $623.1 million, a slight improvement from $622.2 million reported in the same quarter last year. The increase came behind organic subscription growth of 1.2%, offset by lower organic recurring and transactional revenues. On the other hand, net loss narrowed to $28.3 million or $0.04 a share compared to a net loss of $65.6 million or $0.09 per share for the third quarter of 2024.

Clarivate generated $468.6 million in operating cash flow and $276.1 million in free cash flow for the first nine months of the year. It also returned $150 million to shareholders through the purchase of 34.8 million shares.

Following the impressive third quarter, Clarivate has updated its full-year outlook and now expects revenue to range between $2.42 billion and $2.45 billion, up from its previous guidance of $2.28 billion to $2.40 billion. It expects adjusted diluted EPS to be between $0.60 and $0.70.

Clarivate Plc (NYSE:CLVT) provides transformative intelligence, including enriched data, insights, and workflow solutions to the academia, government, intellectual property, and life sciences sectors. It helps organizations make better decisions and accelerate innovation through services that cover research, intellectual property management, and healthcare intelligence.

While we acknowledge the potential of CLVT 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 CLVT and that has 100x upside potential, check out our report about this cheapest AI stock.

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