Claritev Corporation (CTEV)
NYSE:CTEV
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Claritev
(NYSE:CTEV)
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Rating:59Neutral
Price Target:
$33.00
▼(-29.97% Downside)
Action:Reiterated
Date:06/12/26
The score is held back primarily by weak financial fundamentals—persistent net losses, negative equity, and high leverage with inconsistent free cash flow. Offsetting factors include positive and improving operational momentum from the earnings call (raised revenue guide, strong bookings/pipeline, and FCF expectations) and supportive near-term technical trend, while valuation remains constrained by losses and corporate risk is elevated due to the DOJ-related matter.
Positive Factors
Strong ACV bookings and pipeline visibility
Robust ACV bookings and a 4.8x pipeline coverage ratio provide durable forward revenue visibility. With management noting ACV generally converts to revenue in 6–12 months and a meaningful increase in large deals, the business has structural recurring-revenue momentum supporting predictable top-line growth and conversion into cash over the medium term.
Negative Factors
Very high leverage and negative equity
Negative equity and roughly $4.6B of debt create elevated structural balance‑sheet risk. Such leverage reduces financial flexibility, heightens refinancing and covenant vulnerability, and means the company must sustain strong, consistent cash generation for an extended period to rebuild equity and avoid stress under adverse conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong ACV bookings and pipeline visibility
Robust ACV bookings and a 4.8x pipeline coverage ratio provide durable forward revenue visibility. With management noting ACV generally converts to revenue in 6–12 months and a meaningful increase in large deals, the business has structural recurring-revenue momentum supporting predictable top-line growth and conversion into cash over the medium term.
Read all positive factors
Claritev (CTEV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$526.61M
Dividend YieldN/A
Average Volume (3M)178.75K
Price to Earnings (P/E)―
Beta (1Y)2.07
Revenue Growth5.53%
EPS Growth76.25%
CountryUS
Employees2,700
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-17.33
Shares Outstanding17,047,789
10 Day Avg. Volume267,418
30 Day Avg. Volume178,745
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)-4.04
Price to Sales (P/S)0.73
P/FCF Ratio-57.23
Enterprise Value/Market Cap9.52
Enterprise Value/Revenue5.12
Enterprise Value/Gross Profit8.39
Enterprise Value/Ebitda9.69
Forecast
1Y Price Target
$36.83Price Target Upside-21.83% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-15.61
Revenue Forecast (FY)$989.60M
Claritev Business Overview & Revenue Model
Company Description
Claritev Corporation, together with its affiliated companies, provides advanced data analytics and technology-enabled services focused on cost management, payment optimization, and revenue assurance for the healthcare sector across the United Stat...
How the Company Makes Money
null...
Claritev Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and financial trajectory: revenue and adjusted EBITDA outperformed expectations, ACV bookings and pipeline showed strong momentum (+70% pipeline growth, $44.1M ACV in Q1), and AI-driven efficiencies are producing measurable productivity gains. Management is investing to expand services and enter new verticals (public sector, large health systems) while maintaining full-year EBITDA guidance and raising the bottom end of revenue guidance. Near-term headwinds include modest PSAV volume declines, the expected cash-consumption pattern in Q1/Q3 due to working capital and interest normalization, and lower-margin services during ramp; however, these were presented as deliberate, invest-to-scale initiatives with visibility into ACV conversion and revenue ramping in 6–12 months.Positive Updates
Revenue and EBITDA Outperformance
Total revenue of $244.7M in Q1, up 5.8% year-over-year; adjusted EBITDA of $146.9M, up 3.4% year-over-year, representing a 60% EBITDA margin. Management raised the bottom end of full-year revenue guide to $985M–$1.0B and maintained full-year adjusted EBITDA guidance of $605M–$615M (61%–62% margins).
Negative Updates
Modest PSAV Volume Declines
Q1 experienced modest declines in PSAV claim volumes (not fully quantified on the call), requiring reliance on favorable rate/mix and higher-acuity claims to sustain revenue growth in that line.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue and EBITDA Outperformance
Total revenue of $244.7M in Q1, up 5.8% year-over-year; adjusted EBITDA of $146.9M, up 3.4% year-over-year, representing a 60% EBITDA margin. Management raised the bottom end of full-year revenue guide to $985M–$1.0B and maintained full-year adjusted EBITDA guidance of $605M–$615M (61%–62% margins).
Read all positive updates
Company Guidance
Guidance-wise Claritev raised the bottom of its 2026 revenue outlook to $985M–$1.0B (up $5M at the low end) while maintaining adjusted EBITDA guidance of $605M–$615M (61%–62% margins); on a like‑for‑like basis (after normalizing an $18M one‑time P&C contribution in 2025) that implies roughly 3.5%–5% adjusted EBITDA dollar growth. Management reiterated an $80M–$100M ACV bookings target for the year (20%–50% growth vs. last year) — Q1 bookings were $44.1M — and said new bookings generally convert to revenue in 6–12 months; Q2 revenue is expected to be roughly flat sequentially with revenue growth accelerating to ~3%–5% in H2 as new ACV ramps. Other metrics backing the guide include Q1 revenue of $244.7M (+5.8% YoY), Q1 adjusted EBITDA of $146.9M (60% margin), $36.8M of unlevered free cash flow (+181% YoY), pipeline growth of +70% YoY, 19 deals >$100k ACV, 9 deals >$1M ACV (a 350% increase in 7‑figure deals), a ~73% upsell/cross‑sell mix (27% net new), ~2x average deal size growth, ~4.8x pipeline coverage to quota, planned capital of $160M–$170M, an additional $20M–$25M of investment for services, and an expectation of positive free cash flow with adjusted cash conversion normalizing to pre‑2025 levels by year‑end.Claritev Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
18
Very Negative
Cash Flow
42
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 978.76M | 965.41M | 930.62M | 961.52M | 1.08B | 1.12B |
| Gross Profit | 597.67M | 266.58M | 691.22M | 726.06M | 875.62M | 942.31M |
| EBITDA | 517.45M | 475.44M | -1.01B | 651.93M | 158.32M | 814.99M |
| Net Income | -286.52M | -284.28M | -1.65B | -91.70M | -572.91M | 102.08M |
Balance Sheet | ||||||
| Total Assets | 4.84B | 4.89B | 5.15B | 6.96B | 7.37B | 8.22B |
| Cash, Cash Equivalents and Short-Term Investments | 21.33M | 16.81M | 16.85M | 71.55M | 334.05M | 185.33M |
| Total Debt | 4.61B | 4.63B | 4.54B | 4.57B | 4.78B | 4.93B |
| Total Liabilities | 5.07B | 5.06B | 5.07B | 5.26B | 5.58B | 5.88B |
| Stockholders Equity | -241.14M | -173.90M | 84.02M | 1.71B | 1.79B | 2.34B |
Cash Flow | ||||||
| Free Cash Flow | -38.76M | -12.28M | -10.51M | 62.87M | 282.63M | 320.10M |
| Operating Cash Flow | 98.74M | 117.32M | 107.62M | 171.72M | 372.36M | 404.69M |
| Investing Cash Flow | -128.92M | -121.02M | -118.12M | -249.79M | -104.45M | -228.38M |
| Financing Cash Flow | 31.00M | 2.36M | -41.31M | -180.99M | -115.74M | -114.68M |
Claritev Technical Analysis
Positive
47.12
Price Trends
23.13
Positive
21.68
Positive
36.28
Negative
Market Momentum
2.10
Negative
62.03
Neutral
87.73
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTEV, the sentiment is Positive. The current price of 47.12 is above the 20-day moving average (MA) of 24.53, above the 50-day MA of 23.13, and above the 200-day MA of 36.28, indicating a neutral trend. The MACD of 2.10 indicates Negative momentum. The RSI at 62.03 is Neutral, neither overbought nor oversold. The STOCH value of 87.73 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CTEV.
Claritev Risk Analysis
Claritev disclosed 62 risk factors in its most recent earnings report. Claritev reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Claritev Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $763.39M | 38.53 | 5.67% | 0.52% | 6.64% | 6.54% | |
77 Outperform | $993.67M | 10.04 | 31.39% | ― | 40.95% | 4.15% | |
59 Neutral | $526.61M | -1.80 | 205.84% | ― | 5.53% | 76.25% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $136.70M | -0.51 | -99.78% | ― | -2.83% | -223.32% | |
49 Neutral | $120.68M | -0.52 | -67.07% | ― | -3.89% | 63.03% | |
48 Neutral | $539.91M | -1.08 | -77.89% | ― | -21.26% | -290.08% |
* Healthcare Sector Average
CTEV
Claritev
30.89
-8.94
-22.45%
HSTM
HealthStream
26.13
-1.23
-4.49%
EVH
Evolent Health
4.80
-3.38
-41.32%
HCAT
Health Catalyst
1.85
-2.03
-52.32%
NUTX
Clinigence Holdings
144.40
10.63
7.95%
DH
Definitive Healthcare Corp
0.84
-2.92
-77.69%
Claritev Corporate Events
Legal ProceedingsRegulatory Filings and Compliance
Claritev Addresses DOJ Antitrust Probe, Ensures Compliance
Negative
May 18, 2026
Claritev Corporation disclosed that it received a confidential grand jury subpoena from the U.S. Department of Justice’s Antitrust Division in August 2024 related to an investigation concerning health insurance. The company stated it has ful...
Executive/Board ChangesShareholder Meetings
Claritev Shareholders Expand Incentive Plan, Back Board Slate
Positive
Apr 30, 2026
On April 29, 2026, Claritev stockholders approved an amendment to the 2020 Omnibus Incentive Plan, increasing the pool of common shares available for equity awards by 2,375,000 shares, which expands the company’s capacity to use stock-based ...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Claritev Highlights Strategy and Risks at 2026 Investor Day
Neutral
Mar 16, 2026
On March 16, 2026, Claritev Corporation’s management team hosted its 2026 Investor Day in New York, using a detailed presentation to brief shareholders and analysts on its business and financial framework. The company highlighted its relianc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.