We recently published 10 Best SaaS Stocks Trading at a Discount. Clearwater Analytics Holdings, Inc. (NYSE:CWAN) is one of the best Saas stocks trading at a discount.
Clearwater Analytics Holdings, Inc. (NYSE:CWAN) is a SaaS company that caters to the needs of the finance industry. Investment firm DA Davidson is one of the most ardent followers of the firm and its latest coverage came on December 10th. It saw DA Davidson reiterate a Buy rating and a $30 share price target for Clearwater Analytics Holdings, Inc. (NYSE:CWAN). The stock’s latest closing price was $21.80. In its note, the research firm shared that the SaaS company could be valued between $30 and $34 in case it was sold. The discussion about a sale came following a Reuters report outlining that activist investor Starboard had taken a $5% stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) and was pushing for a sale in case of interest from buyers.
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The Reuters report had surfaced on December 9th and cited two sources familiar with the matter. Reuters’ sources added that Starboard believed Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was significantly undervalued. The report about Starboard followed an earlier report from the publication, which had claimed that private equity firm Thoma Bravo was interested in acquiring Clearwater Analytics Holdings, Inc. (NYSE:CWAN). On November 13th, Morgan Stanley had kept a Buy rating on the shares and a $27 price target.
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Disclosure: None. This article is originally published at Insider Monkey.
