Clarivate (NYSE:CLVT) Stock Price Target Lowered at The Goldman Sachs Group

Clarivate (NYSE:CLVT) had its price objective trimmed by The Goldman Sachs Group from $2.60 to $2.30 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently commented on CLVT. Wall Street Zen downgraded shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a report on Monday, September 21st. Jefferies Financial Group restated a “hold” rating and issued a $2.25 price target on shares of Clarivate in a research note on Thursday. Barclays dropped their price target on Clarivate from $2.50 to $2.00 and set an “underweight” rating on the stock in a research note on Thursday, July 30th. Finally, Morgan Stanley assumed coverage on Clarivate in a report on Friday, October 30th. They issued an “underweight” rating and a $1.50 price objective for the company. One equities 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. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $2.65.

Clarivate Stock Performance

Shares of NYSE CLVT opened at $2.33 on Thursday. The firm’s 50-day moving average price is $1.82 and its 200-day moving average price is $2.21. 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 PE ratio of -3.83 and a beta of 1.38. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.92.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating 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 negative net margin of 17.02% and a positive return on equity of 9.84%. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. As a group, analysts anticipate that Clarivate will post 0.64 EPS for the current year.

Institutional Investors Weigh In On Clarivate

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLVT. First Trust Advisors LP increased its stake in shares of Clarivate by 10.3% in the first quarter. First Trust Advisors LP now owns 5,522,601 shares of the company’s stock worth $13,972,000 after purchasing an additional 516,418 shares in the last quarter. Empowered Funds LLC raised its position in shares of Clarivate by 418.6% during the 1st quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock valued at $5,100,000 after purchasing an additional 1,627,159 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Clarivate by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,845,148 shares of the company’s stock valued at $4,668,000 after buying an additional 24,257 shares in the last quarter. KBC Group NV purchased a new position in shares of Clarivate during the 1st quarter valued at $4,118,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Clarivate during the 1st quarter valued at $3,342,000. 85.72% of the stock is 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.