Goldman Sachs reinstated coverage of Clearwater Analytics (CWAN) with a Neutral rating and $26 price target post the acquisition of Enfusion. The firm is constructive on Clearwater’s core accounting platform and sees “clear competitive differentiators” versus mostly legacy competitors that positions the company for “durable” 20% growth in this segment. However, Goldman says its positive view is balanced by risks with Clearwater’s next phase of scaling into a multi-product company.
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