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

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

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. The Goldman Sachs Group lowered Clarivate from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $4.20 to $3.60 in a research report on Thursday, January 8th. Royal Bank Of Canada reduced their price target 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 decreased their price target on shares of Clarivate from $4.00 to $2.40 and set an “underweight” rating on the stock in a research report on Wednesday, February 25th. Finally, Morgan Stanley reissued an “underweight” rating and set a $3.00 price objective (down from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Five investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Clarivate currently has an average rating of “Reduce” and a consensus price target of $3.22.

Clarivate Stock Performance

NYSE CLVT opened at $2.74 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.89. Clarivate has a 12-month low of $1.66 and a 12-month high of $4.77. The company has a 50-day simple moving average of $2.64 and a two-hundred day simple moving average of $3.38. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -9.12 and a beta of 1.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. M&T Bank Corp purchased a new position in shares of Clarivate in the fourth quarter worth about $34,000. Essex Financial Services Inc. acquired a new stake in shares of Clarivate during the third quarter worth about $41,000. PharVision Advisers LLC purchased a new stake in Clarivate in the third quarter valued at approximately $45,000. Pitcairn Co. acquired a new position in Clarivate in the 2nd quarter worth approximately $52,000. Finally, Jump Financial LLC acquired a new position in Clarivate in the 4th quarter worth approximately $41,000. Hedge funds and other 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.