The Goldman Sachs Group Has Lowered Expectations for Clarivate (NYSE:CLVT) Stock Price

Clarivate (NYSE:CLVT) had its price objective reduced by research analysts at The Goldman Sachs Group from $2.60 to $2.30 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group‘s price target points to a potential upside of 2.31% from the stock’s current price.

Other analysts have also recently issued reports about the company. Barclays reduced their price target on Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a report on Thursday, July 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a report on Monday, September 21st. Morgan Stanley initiated coverage on shares of Clarivate in a research note on Friday, October 30th. They issued an “underweight” rating and a $1.50 price objective for the company. Wall Street Zen downgraded shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Jefferies Financial Group reissued a “hold” rating and set a $2.25 price objective on shares of Clarivate in a report on Thursday. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Clarivate has an average rating of “Reduce” and an average price target of $2.65.

Clarivate Stock Performance

CLVT traded up $0.13 during trading on Thursday, hitting $2.25. 3,226,782 shares of the stock were exchanged, compared to its average volume of 6,010,560. The firm has a market capitalization of $1.44 billion, a P/E ratio of -3.68 and a beta of 1.38. Clarivate has a 1-year low of $1.42 and a 1-year high of $3.87. The stock has a fifty day moving average price of $1.81 and a two-hundred day moving average price of $2.21. 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 earnings results on Tuesday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. Clarivate had a negative net margin of 17.02% and a positive return on equity of 9.73%. The business had revenue of $481.60 million during the quarter, compared to the consensus estimate of $566.77 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was down 22.7% compared to the same quarter last year. As a group, sell-side analysts predict that Clarivate will post 0.64 earnings per share for the current year.

Insider Buying and Selling at Clarivate

In related news, Director Kenneth Cornick bought 250,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $1.85 per share, with a total value of $462,500.00. Following the completion of the transaction, the director directly owned 2,000,000 shares of the company’s stock, valued at approximately $3,700,000. This represents a 14.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Clarivate

Several hedge funds have recently modified their holdings of CLVT. Personal CFO Solutions LLC purchased a new position in Clarivate in the 1st quarter worth approximately $30,000. FreeGulliver LLC acquired a new position in shares of Clarivate during the first quarter worth $30,000. Principal Financial Group Inc. acquired a new position in shares of Clarivate during the first quarter worth $32,000. Parallel Advisors LLC boosted its stake 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, HB Wealth Management LLC purchased a new position in shares of Clarivate in the second quarter valued at $35,000. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Clarivate Company Profile

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.