Clearwater Analytics Holdings, the Technology sector company, was revisited by a Wall Street analyst on July 11. Analyst Michael Infante from Morgan Stanley maintained a Buy rating on the stock and has a $36.00 price target.
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Michael Infante has given his Buy rating due to a combination of factors surrounding Clearwater Analytics Holdings’ strategic partnership with Bloomberg. This collaboration is set to provide a comprehensive solution for asset managers and owners, enhancing integration, OTC management, cash management, and data exchanges. The partnership is expected to unlock access to Clearwater’s largest customer base, offering a more resource-efficient alternative compared to acquisitions like Enfusion.
Furthermore, the partnership with Bloomberg, whose AIM product is used by over 900 clients managing $22 trillion in assets, positions Clearwater favorably in front-office RFP discussions. This move is seen as accretive to Clearwater’s long-term growth, despite the challenges of executing multiple acquisitions and partnerships. Infante views this partnership as a significant step in Clearwater’s strategic initiatives, potentially increasing its relevance and competitive edge in the market.
Infante covers the Technology sector, focusing on stocks such as nCino, Clearwater Analytics Holdings, and Q2 Holdings. According to TipRanks, Infante has an average return of 2.7% and a 45.45% success rate on recommended stocks.