Clearwater Analytics price target lowered to $28 from $36 at Piper Sandler

Piper Sandler analyst Arvind Ramnani lowered the firm’s price target on Clearwater Analytics (CWAN) to $28 from $36 and keeps an Overweight rating on the shares. The firm notes the company delivered Q1 ahead of expectations. NRR of 114% was still healthy driven by low-level churn and price increases. Notably, Clearwater has not seen a significant impact on its revenues from tariffs, and emphasized that revenues are “very well protected from the downside.”