Clarivate (NYSE:CLVT) Price Target Lowered to $2.80 at Citigroup

Clarivate (NYSE:CLVT) had its price objective decreased by Citigroup from $4.25 to $2.80 in a research report report published on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a report on Monday, December 29th. Morgan Stanley reiterated an “underweight” rating and issued a $3.00 price objective (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th. Royal Bank Of Canada cut their target price on shares of Clarivate from $5.00 to $3.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 25th. Barclays lowered their price target on shares of Clarivate from $4.00 to $2.40 and set an “underweight” rating on the stock in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group lowered Clarivate from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $4.20 to $3.60 in a report on Thursday, January 8th. Five research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $3.22.

Clarivate Stock Performance

Shares of CLVT stock opened at $2.53 on Wednesday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -8.43 and a beta of 1.55. Clarivate has a 1-year low of $1.66 and a 1-year high of $4.77. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.89. The stock’s fifty day simple moving average is $2.67 and its 200-day simple moving average is $3.40.

Institutional Trading of Clarivate

Large investors have recently made changes to their positions in the stock. M&T Bank Corp acquired a new position in shares of Clarivate during the 4th quarter valued at about $34,000. Essex Financial Services Inc. bought a new stake in Clarivate during the third quarter worth approximately $41,000. PharVision Advisers LLC acquired a new position in Clarivate during the third quarter valued at approximately $45,000. Pitcairn Co. bought a new position in shares of Clarivate in the second quarter valued at approximately $52,000. Finally, Jump Financial LLC acquired a new stake in shares of Clarivate in the fourth quarter worth $41,000. Institutional investors own 85.72% of the company’s stock.

Clarivate Company Profile

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.