Clarivate PLC (NYSE:CLVT) Receives $2.88 Consensus Target Price from Brokerages

Clarivate PLC (NYSE:CLVT) has earned an average recommendation of “Reduce” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $3.0167.

Several brokerages have recently weighed in on CLVT. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a report on Wednesday, June 24th. Citigroup decreased their target price on Clarivate from $2.80 to $2.50 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Wall Street Zen downgraded Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus cut their price target on Clarivate from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, The Goldman Sachs Group reduced their price objective on Clarivate from $2.90 to $2.60 and set a “neutral” rating for the company in a research note on Thursday, July 30th.

Clarivate Stock Performance

Shares of CLVT stock opened at $1.95 on Thursday. The firm has a 50 day moving average of $2.26 and a 200-day moving average of $2.40. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -3.74 and a beta of 1.40. 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 has a 52 week low of $1.66 and a 52 week high of $4.55.

Clarivate (NYSE:CLVT) last released its earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $587.30 million for the quarter, compared to the consensus estimate of $589.73 million. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. Clarivate’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. On average, equities analysts forecast that Clarivate will post 0.65 earnings per share for the current year.

Institutional Trading of Clarivate

Several hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers lifted its holdings in shares of Clarivate by 11.2% during the 2nd quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock worth $112,000 after acquiring an additional 2,617 shares during the last quarter. California State Teachers Retirement System increased its stake in Clarivate by 0.9% in the second quarter. California State Teachers Retirement System now owns 303,147 shares of the company’s stock valued at $1,304,000 after acquiring an additional 2,788 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Clarivate by 3.9% during the third quarter. Envestnet Asset Management Inc. now owns 77,275 shares of the company’s stock valued at $296,000 after purchasing an additional 2,884 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Clarivate by 4.3% during the second quarter. Hsbc Holdings PLC now owns 116,648 shares of the company’s stock worth $500,000 after purchasing an additional 4,792 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in Clarivate by 6.7% during the third quarter. Advisory Services Network LLC now owns 85,200 shares of the company’s stock worth $326,000 after purchasing an additional 5,371 shares during the last quarter. Institutional investors and hedge funds 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.