Clearwater Analytics Holdings (CWAN) PT Raised to $25 at RBC Capital

RBC Capital analyst Rishi Jaluria raised the price target on Clearwater Analytics Holdings (NYSE: CWAN) to $25.00 (from $22.00) while maintaining a Outperform rating.

The analyst comments "Clearwater reported a good quarter overall. ARR growth accelerated on strong net new contribution, and steady retention metrics Q/Q. EBITDA margins were nicely ahead of consensus, but annual margins were guided up to a slightly lesser degree than recent trends. Given the company is tracking well ahead of 2024 analyst day margin expansion plans, 2H guidance leaves room for incremental OpEx investments. All in, estimates move higher as the company's execution and mission criticality stand out."

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