The Goldman Sachs Group Cuts Clarivate (NYSE:CLVT) Price Target to $7.50

Clarivate (NYSE:CLVT) had its target price cut by stock analysts at The Goldman Sachs Group from $8.50 to $7.50 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 21.75% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Morgan Stanley lowered their target price on shares of Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada lowered their price objective on Clarivate from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Barclays reduced their target price on Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. Finally, Oppenheimer lowered their price target on Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.78.

Clarivate Stock Performance

Shares of CLVT stock opened at $6.16 on Thursday. Clarivate has a fifty-two week low of $6.07 and a fifty-two week high of $10.03. The stock’s 50-day moving average is $7.15 and its two-hundred day moving average is $7.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $4.12 billion, a P/E ratio of -4.16, a PEG ratio of 1.41 and a beta of 1.24.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The firm had revenue of $683.70 million for the quarter, compared to the consensus estimate of $687.80 million. Clarivate had a positive return on equity of 9.95% and a negative net margin of 34.66%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. Analysts predict that Clarivate will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of Clarivate

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise acquired a new stake in Clarivate during the third quarter worth $33,000. Montag A & Associates Inc. boosted its position in shares of Clarivate by 729.6% during the 4th quarter. Montag A & Associates Inc. now owns 7,732 shares of the company’s stock valued at $72,000 after acquiring an additional 6,800 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new position in Clarivate in the first quarter worth about $76,000. Wedmont Private Capital bought a new position in Clarivate during the fourth quarter worth about $99,000. Finally, Forum Financial Management LP bought a new position in Clarivate during the third quarter worth about $81,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.