The stock of Clarivate Plc (NYSE:CLVT) last traded at $6.71, down -0.30% from the previous session.
Data from the available sources indicates that Clarivate Plc (NYSE:CLVT) is covered by 11 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $11.00 and a low of $6.00, we find $8.50. Given the previous closing price of $6.73, this indicates a potential upside of 26.3 percent. CLVT stock price is now -11.57% away from the 50-day moving average and -24.52% away from the 200-day moving average. The market capitalization of the company currently stands at $4.54B.
In total, 4 analysts have assigned it a hold rating, and 5 have given it a buy rating. Brokers who have rated the stock have averaged $8.75 as their price target over the next twelve months.
With the price target reduced from $8 to $7, Barclays Downgraded its rating from Equal Weight to Underweight for Clarivate Plc (NYSE: CLVT).
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 $4.95 million. Insiders disposed of 334,002 shares of company stock worth roughly $2.24 million over the past 1 year. A total of 38.61% 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 LOS ANGELES CAPITAL MANAGEMENT LLC during the first quarter worth $11,466,000. LTS ONE MANAGEMENT LP invested $9,562,000 in shares of CLVT during the first quarter. In the first quarter, SASCO CAPITAL INC / CT/ acquired a new stake in Clarivate Plc valued at approximately $8,939,000. FINEPOINT CAPITAL LP acquired a new stake in CLVT for approximately $8,370,000. HARBOR SPRING CAPITAL, LLC purchased a new stake in CLVT valued at around $6,911,000 in the second quarter. In total, there are 451 active investors with 66.64% ownership of the company’s stock.
With an opening price of $6.79 on Friday morning, Clarivate Plc (NYSE: CLVT) set off the trading day. During the past 12 months, Clarivate Plc has had a low of $6.41 and a high of $11.99. As of last week, the company has a debt-to-equity ratio of 0.71, a current ratio of 0.95, and a quick ratio of 0.95. The fifty day moving average price for CLVT is $7.53 and a two-hundred day moving average price translates $8.88 for the stock.
The latest earnings results from Clarivate Plc (NYSE: CLVT) was released for Jun, 2023. According to the Information Technology Services Company, earnings per share came in at $0.21, beating analysts’ expectations of $0.2 by 0.01. This compares to $0.09 EPS in the same period last year. The net profit margin was -162.79% and return on equity was -46.41% for CLVT. The company reported revenue of $668.8 million for the quarter, compared to $686.6 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.59 percent. For the current quarter, analysts expect CLVT to generate $633.65M in revenue.
Clarivate Plc(CLVT) Company Profile
Clarivate Plc, an information, analytics, and workflow company, provides structured information and analytics for discovery, development, protection, commercialization, and measurement of scientific research, innovations, and brands. The company operates through three segments: Academia and Government, Life Sciences and Healthcare, and Intellectual Property. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ProQuest One, Pivot, Polaris, eBook Central, Vegs, Alma, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis products for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs; and Real World Data, Dialog, Drug Safety Triager, and healthcare and data solutions. The company also provides Derwent products, which include Derwent Innovation, Innography, 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; and CompuMark products, such as trademark screening, searching, and watching products and services. It serves government and academic institutions, and life science and healthcare companies 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 was founded in 1864 and is headquartered in London, the United Kingdom.
