Clarivate Plc (NYSE:CLVT) Receives $7.78 Consensus Target Price from Analysts

Clarivate Plc (NYSE:CLVT) has received a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.78.

Separately, The Goldman Sachs Group lowered their target price on shares of Clarivate from $8.50 to $7.50 and set a “buy” rating on the stock in a research note on Thursday, May 9th.

Clarivate Price Performance

Shares of NYSE CLVT opened at $5.64 on Tuesday. The firm has a market cap of $3.77 billion, a PE ratio of -3.40, a PEG ratio of 3.76 and a beta of 1.15. The firm has a fifty day moving average of $5.96 and a 200 day moving average of $7.44. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.86 and a current ratio of 0.86. Clarivate has a one year low of $5.19 and a one year high of $10.03.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $621.20 million during the quarter, compared to analyst estimates of $614.57 million. Clarivate had a negative net margin of 39.29% and a positive return on equity of 10.11%. As a group, research analysts predict that Clarivate will post 0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Clarivate

A number of hedge funds have recently modified their holdings of CLVT. Exor N.V. grew its holdings in shares of Clarivate by 102.4% in the fourth quarter. Exor N.V. now owns 65,728,365 shares of the company’s stock valued at $608,645,000 after purchasing an additional 33,256,346 shares during the period. Norges Bank purchased a new stake in shares of Clarivate in the fourth quarter valued at about $54,457,000. Baupost Group LLC MA grew its holdings in shares of Clarivate by 20.0% in the first quarter. Baupost Group LLC MA now owns 30,598,402 shares of the company’s stock valued at $227,346,000 after purchasing an additional 5,098,402 shares during the period. Glenview Capital Management LLC grew its holdings in shares of Clarivate by 22.2% in the fourth quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock valued at $228,269,000 after purchasing an additional 4,472,302 shares during the period. Finally, Capital World Investors purchased a new stake in shares of Clarivate in the first quarter valued at about $30,104,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Company Profile

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.