Clarivate PLC (NYSE:CLVT) Stock Has Average Price Target of $2.65

Clarivate PLC (NYSE:CLVT) has been given a consensus recommendation of “Reduce” by the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $2.65.

A number of brokerages have commented on CLVT. Citigroup lowered their target price on Clarivate from $2.80 to $2.50 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Jefferies Financial Group reissued a “hold” rating and issued a $2.25 price target on shares of Clarivate in a report on Thursday. Barclays reduced their price target on Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group cut their price objective on shares of Clarivate from $2.60 to $2.30 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research report on Monday, September 21st.

Hedge Funds Weigh In On Clarivate

A number of institutional investors have recently modified their holdings of CLVT. Jefferies Financial Group Inc. purchased a new position in Clarivate in the third quarter valued at approximately $425,000. Abacus Wealth Partners LLC purchased a new position in shares of Clarivate in the third quarter worth about $42,000. Commonwealth Equity Services LLC acquired a new stake in shares of Clarivate in the third quarter valued at about $30,000. Vise Technologies Inc. increased its position in shares of Clarivate by 50.4% in the 3rd quarter. Vise Technologies Inc. now owns 37,327 shares of the company’s stock valued at $62,000 after purchasing an additional 12,512 shares during the last quarter. Finally, State of Wyoming boosted its holdings in Clarivate by 120.1% during the third quarter. State of Wyoming now owns 170,100 shares of the company’s stock worth $284,000 after buying an additional 92,811 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Trading Up 0.2%

Clarivate stock opened at $2.33 on Friday. The business has a 50-day simple moving average of $1.82 and a two-hundred day simple moving average of $2.20. Clarivate has a 52-week low of $1.42 and a 52-week high of $3.87. The company has a market cap of $1.49 billion, a P/E ratio of -3.83 and a beta of 1.38. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $481.60 million during the quarter, compared to analysts’ expectations of $566.77 million. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. Analysts predict that Clarivate will post 0.64 EPS for the current year.

About Clarivate

Clarivate Plc (NYSE:CLVT) provides analytics, data, and workflow solutions to organizations in academia, government, research, life sciences, and intellectual property. Its offerings are designed to help customers evaluate research, manage information, accelerate innovation, and support strategic decision-making.

The company’s products include Web of Science research databases and citation analytics, InCites research evaluation tools, Derwent innovation and patent intelligence services, and Cortellis life sciences and drug-development information.