Clarivate PLC (NYSE:CLVT) Stock Has Consensus Target Price of $3.02 According to Analysts

Clarivate PLC (NYSE:CLVT) has received a consensus rating of “Reduce” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $3.02.

Several research firms have recently issued reports on CLVT. Citigroup cut their price objective on shares of Clarivate from $2.80 to $2.50 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a research report on Monday, September 21st. Stifel Nicolaus lowered their target price on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. The Goldman Sachs Group dropped their target price on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Finally, Barclays dropped their target price on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating on the stock in a research report on Thursday, July 30th.

Insiders Place Their Bets

In related news, Director Kenneth L. Cornick acquired 650,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was acquired at an average cost of $1.86 per share, for a total transaction of $1,209,000.00. Following the completion of the purchase, the director owned 1,750,000 shares of the company’s stock, valued at approximately $3,255,000. This represents a 59.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew Snyder sold 2,489,618 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1.94, for a total transaction of $4,829,858.92. Following the sale, the director directly owned 3,856,597 shares in the company, valued at $7,481,798.18. This trade represents a 39.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 22.88% of the company’s stock.

Hedge Funds Weigh In On Clarivate

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Personal CFO Solutions LLC acquired a new stake in Clarivate during the 1st quarter worth about $30,000. FreeGulliver LLC purchased a new stake in Clarivate during the 1st quarter valued at about $30,000. Principal Financial Group Inc. purchased a new stake in Clarivate during the 1st quarter valued at about $32,000. Parallel Advisors LLC increased its holdings in shares of Clarivate by 94.2% in the first quarter. Parallel Advisors LLC now owns 13,786 shares of the company’s stock valued at $35,000 after purchasing an additional 6,687 shares during the period. Finally, Apella Capital LLC acquired a new position in shares of Clarivate in the first quarter valued at about $43,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Trading Down 0.3%

Shares of NYSE:CLVT opened at $1.60 on Tuesday. The business’s 50-day moving average is $1.87 and its 200 day moving average is $2.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.85. Clarivate has a 1 year low of $1.42 and a 1 year high of $3.87. The firm has a market capitalization of $1.03 billion, a P/E ratio of -3.09 and a beta of 1.40.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $587.30 million during the quarter, compared to the consensus estimate of $589.73 million. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. On average, research analysts predict that Clarivate will post 0.67 earnings per share for the current fiscal year.

Clarivate Company Profile

Clarivate Plc (NYSE:CLVT) is a global information services and analytics company that provides data, software and research tools to organizations in academia, government, life sciences, intellectual property and other knowledge-intensive industries.

Its products and services include Web of Science research and citation databases, Derwent Innovation and other intellectual property solutions, life sciences analytics, and workflow and library-management platforms. Through its ProQuest and Ex Libris offerings, Clarivate also supports academic institutions with research content, library systems, discovery tools and digital resources.

Clarivate serves customers internationally, including universities, research organizations, corporations, publishers, government agencies and patent professionals.