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Clearwater worth ‘at least’ $26 per share in buyout, says Oppenheimer

Oppenheimer analyst Brian Schwartz says Clearwater Analytics (CWAN) is worth “at least” $26 per share in a takeover. Bloomberg reported the company is considering a potential take-private transaction and is working with advisors to solicit interest for prospective buyers, the analyst tells investors in a research note. Oppenheimer thinks the lack of investor sentiment after the Enfusion, Beacon, and Bistro acquisitions, in addition to market expectations of value destruction for Enfusion, leaves Clearwater Analytics “exposed and explains the potential interest.” The firm has an Outperform rating on Clearwater with a $36 price target The stock in morning trading is up 9% to $20.05.

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