Stocks of Clarivate Plc (NYSE:CLVT) traded higher last session on Wall Street, up 0.86% to $9.34.
According to the data, Clarivate Plc (NYSE:CLVT) has 9 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $14.50 and a low of $10.00, we find $12.50. Given the previous closing price of $9.26, this indicates a potential upside of 34.99 percent. CLVT stock price is now -6.22% away from the 50-day moving average and -30.27% away from the 200-day moving average. The market capitalization of the company currently stands at $6.60B.
A total of 2 analysts have issued a hold rating and 7 have given it a buy rating. Brokers who have rated the stock have averaged $12.44 as their price target over the next twelve months.
With the price target of $20, Wells Fargo recently initiated with Overweight rating for Clarivate Plc (NYSE: CLVT). On February 04, 2022, Citigroup Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $35 to quote $16, while ‘Barclays’ rates the stock as ‘Equal Weight’.
In other news, Samson James Gordon, Chief Product Officer sold 100,000 shares of the company’s stock on Nov 15. The stock was sold for $1,048,110 at an average price of $10.48. Upon completion of the transaction, the Chief Product Officer now directly owns 737,898 shares in the company, valued at $6.89 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 15, Director Snyder Andrew Miles bought 51,063 shares of the business’s stock. A total of $591,310 was incurred on buying the stock at an average price of $11.58. This leaves the insider owning 259,396 shares of the company worth $2.42 million. Insiders disposed of 38,752,191 shares of company stock worth roughly $361.95 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CLVT stock. A new stake in Clarivate Plc shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $256,755,000. ELLIOTT INVESTMENT MANAGEMENT L.P. invested $93,400,000 in shares of CLVT during the first quarter. In the first quarter, FARMER STEVEN PATRICK acquired a new stake in Clarivate Plc valued at approximately $31,246,000. TWINBEECH CAPITAL LP acquired a new stake in CLVT for approximately $11,243,000. HSBC HOLDINGS PLC purchased a new stake in CLVT valued at around $4,695,000 in the second quarter. In total, there are 433 active investors with 93.60% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $9.26 for Clarivate Plc (NYSE: CLVT). During the past 12 months, Clarivate Plc has had a low of $8.00 and a high of $25.63. As of last week, the company has a debt-to-equity ratio of 1.17, a current ratio of 0.90, and a quick ratio of 0.90. The fifty day moving average price for CLVT is $9.96 and a two-hundred day moving average price translates $13.39 for the stock.
The latest earnings results from Clarivate Plc (NYSE: CLVT) was released for Jun, 2022. According to the Information Technology Services Company, earnings per share came in at $0.22, beating analysts’ expectations of $0.2 by 0.02. This compares to $0.04 EPS in the same period last year. The company reported revenue of $635.7 million for the quarter, compared to $442.1 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 43.79 percent. For the current quarter, analysts expect CLVT to generate $644.63M in revenue.
Clarivate Plc(CLVT) Company Profile
Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs. The company also provides Derwent products, which include Derwent Innovation, Techstreet, and IP Professional Services that enables its customers to evaluate the novelty of potential new products, confirm freedom to operate with respect to their product design, help them secure patent protection, assess the competitive technology landscape, and ensure that their products comply with required industry standards; CompuMark products, such as trademark screening, searching, and watching products and services for businesses and law firms; and MarkMonitor products, which helps enterprises to establish, manage, optimize, and protect their online presence. It serves government and academic institutions, life science companies, and research and development corporations in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. The company was formerly known as Clarivate Analytics Plc and changed its name to Clarivate Plc in May 2020. Clarivate Plc is headquartered in London, the United Kingdom.