Clearwater Analytics Holdings, Inc.

NYSE:CWAN Stock Report

Market Cap: US$7.3b

Clearwater Analytics Holdings Future Growth

Future criteria checks 4/6

Clearwater Analytics Holdings is forecast to grow earnings and revenue by 52.6% and 13.8% per annum respectively. EPS is expected to grow by 52.5% per annum. Return on equity is forecast to be 10.5% in 3 years.

Key information

52.6%

Earnings growth rate

52.55%

EPS growth rate

Software earnings growth19.6%
Revenue growth rate13.8%
Future return on equity10.54%
Analyst coverage

Good

Last updated09 May 2026

Recent future growth updates

Recent updates

Narrative Update • May 02

CWAN: Cash Offer And AI Skepticism Will Shape Balanced Risk Profile

Analysts have trimmed their price target for Clearwater Analytics Holdings to about $24, in line with the $24.55 per share cash offer from the Permira and Warburg Pincus led investor group. They view the agreed deal price as a fair reflection of value given current sector sentiment around AI driven software names.
Narrative Update • Apr 16

CWAN: Cash Buyout Terms And AI Caution Will Shape Future Risk Reward

Narrative update on Clearwater Analytics Holdings Analysts trimmed their price targets on Clearwater Analytics toward the $24.55 per share cash deal value. Updated assumptions reflect a fair value near $24.09, as they cite the agreed buyout price and growing AI-related caution in software as key reasons for the change.
Narrative Update • Apr 02

CWAN: Takeover Cash Offer And Downgrades Will Shape Balanced Risk Profile

The analyst fair value estimate for Clearwater Analytics Holdings has shifted from $25.91 to $24.47, as analysts align their targets closer to the agreed $24.55 per share cash acquisition price and factor in more cautious assumptions around growth, profitability, and future P/E multiples. Analyst Commentary Recent research has shifted toward treating Clearwater Analytics Holdings more as a deal-driven story rather than a long term growth call.
Narrative Update • Mar 19

CWAN: Take Private Cash Deal And AI Concerns Will Shape Risk Reward

The analyst price target for Clearwater Analytics Holdings is now set around $24.09, edging slightly above the prior $24.00 as analysts align their models with the $24.55 per share cash acquisition agreement and temper earlier growth and margin expectations amid broader AI related software concerns. Analyst Commentary Recent Street research has shifted toward a more cautious stance on Clearwater Analytics Holdings, with several bearish analysts trimming their ratings and aligning price targets more closely with the announced US$24.55 per share cash acquisition price.
Narrative Update • Mar 05

CWAN: Cash Takeout At US$24.55 Will Define Deal Risk Balance

The analyst price target for Clearwater Analytics Holdings has been revised to $24.55 from about $33.55. This change reflects analysts' view that the agreed $24.55 per share cash acquisition, along with softer assumptions for revenue growth, profit margins, and future P/E, now better captures the company’s risk and return profile.
Narrative Update • Feb 18

CWAN: Take Private Deal At US$24.55 Will Shape Future Upside

Analysts have trimmed their average price target on Clearwater Analytics Holdings to $33.55 from $34.74, reflecting more cautious views on valuation and margin assumptions following several recent downgrades, even though revenue growth expectations remain slightly higher. Analyst Commentary Recent downgrades have pulled the average price target on Clearwater Analytics Holdings slightly lower, but the underlying commentary is not uniformly negative.
Narrative Update • Feb 04

CWAN: Take-Private Bid And Downgrades Will Shape Balanced Risk Reward Outlook

Analysts have trimmed their price targets on Clearwater Analytics Holdings, cutting fair value from about $27.89 to $25.91 per share as recent downgrades and questions around acquisition-driven sentiment feed into slightly lower P/E and profitability assumptions. Analyst Commentary Recent research has shifted toward a more cautious stance on Clearwater Analytics Holdings, with several downgrades offsetting earlier optimism around a potential take private scenario and higher takeover values.
Narrative Update • Jan 21

CWAN: Take Private Deal At US$24.55 Will Drive Future Repricing

Analysts have trimmed their fair value estimate for Clearwater Analytics Holdings to about US$34.74 from US$36.00, reflecting updated assumptions for slower revenue growth, higher profit margins, and a lower future P/E multiple, following recent research that includes a downgrade and ongoing discussion of potential take private interest around at least US$26 per share. Analyst Commentary Recent research around Clearwater Analytics Holdings reflects a split view, with some cautious tones on execution and valuation but also a clear pocket of optimism tied to potential corporate actions and perceived mispricing.
Narrative Update • Jan 07

CWAN: Take Private Deal And Fair Value Assumptions Will Define Risk Reward

Analysts have nudged their fair value estimate for Clearwater Analytics Holdings up from US$23.00 to US$24.00 per share. They point to recent Street research that highlights potential take private interest and a view that the shares could be worth at least US$26.00 in a buyout scenario as key supports for the higher price target.
Narrative Update • Dec 23

CWAN: Take-Private Bidding Will Drive Shares Toward Higher Cash Premium

Analysts have trimmed their fair value estimate for Clearwater Analytics Holdings slightly, reducing it from about $28.55 to $27.89 per share. They cited modestly slower projected revenue growth and a lower future price to earnings multiple, partly offset by improved profit margin assumptions and a marginally reduced discount rate.
Narrative Update • Dec 09

CWAN: Take-Private Bidding Interest Will Drive Shares Toward Higher Future Premium

Analysts have nudged their price target on Clearwater Analytics Holdings slightly higher to reflect a fair value of about $28.55 per share, citing a supportive backdrop of potential take private interest and reaffirmed confidence in the company’s long term growth and profitability profile. Analyst Commentary Bullish analysts argue that the prospect of a take private transaction underscores latent strategic value in Clearwater Analytics that is not fully reflected in the current share price, supporting higher valuation targets.
Analysis Article • Dec 04

Investor Optimism Abounds Clearwater Analytics Holdings, Inc. (NYSE:CWAN) But Growth Is Lacking

You may think that with a price-to-sales (or "P/S") ratio of 9.6x Clearwater Analytics Holdings, Inc. ( NYSE:CWAN ) is...
Narrative Update • Nov 25

CWAN: Takeover Interest Will Drive Shares Toward a Potential Premium

Narrative Update on Clearwater Analytics Holdings Analysts have slightly lowered their price target for Clearwater Analytics Holdings from $29.00 to $28.55 per share. They cite ongoing market sentiment and recent acquisition impacts as key factors behind this revision.
Analysis Article • Nov 13

Additional Considerations Required While Assessing Clearwater Analytics Holdings' (NYSE:CWAN) Strong Earnings

Despite posting some strong earnings, the market for Clearwater Analytics Holdings, Inc.'s ( NYSE:CWAN ) stock hasn't...
Seeking Alpha • Nov 10

Clearwater Analytics: Pipeline Is Robust As Expansion Continues

Summary Clearwater Analytics Holdings, Inc. remains a Buy as integration of acquisitions strengthens its SaaS platform and expands its end-to-end investment management capabilities. CWAN's growth strategy focuses on international expansion, product cross-selling, and targeting complex, regulated segments with high barriers to entry. Despite a 47% stock price drop and analyst concerns over integration risk, CWAN maintains strong revenue growth and a robust pipeline. CWAN valuation remains at a premium to peers, but continued high growth, generative AI rollout, and geographic expansion support my patient bullish outlook. Read the full article on Seeking Alpha
Narrative Update • Nov 07

CWAN: Core Business Strength and Integration Progress Will Drive Long-Term Upside

The analyst price target for Clearwater Analytics Holdings has been revised downward from $30.55 to $29.00. Analysts cite slower expected revenue growth but also acknowledge a resilient profit margin and optimism about the company's multi-year growth prospects, despite recent investor concerns.
Narrative Update • Sep 04

Operational Efficiencies And Global Demand Will Boost Prospects Amid Risks

Clearwater Analytics’ unchanged price target reflects a balanced analyst view as integration risks and asset concerns offset attractive FCF-based valuation and strong platform expansion potential, keeping fair value steady at $30.55. Analyst Commentary Stock’s recent decline attributed to concerns over the quality of acquired assets and execution risks integrating multiple acquisitions simultaneously.
Analysis Article • Jul 13

Clearwater Analytics Holdings (NYSE:CWAN) Has A Rock Solid Balance Sheet

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Analysis Article • May 20

Is There An Opportunity With Clearwater Analytics Holdings, Inc.'s (NYSE:CWAN) 43% Undervaluation?

Key Insights The projected fair value for Clearwater Analytics Holdings is US$40.93 based on 2 Stage Free Cash Flow to...
Seeking Alpha • Apr 24

Clearwater Analytics: 3 Acquisitions That Make This A Strong Buy

Summary I am upgrading Clearwater Analytics to a 'Strong Buy' due to their strategic acquisitions and robust fundamentals, despite recent stock price fluctuations. Clearwater's acquisition of Enfusion, Beacon, and Bistro significantly enhances their product offerings and positions them as a comprehensive solution provider in the financial software industry. The Enfusion deal, valued at $1.5 billion, adds $200 million ARR and expands Clearwater's capabilities into front office functions, addressing a critical gap. Despite integration risks, particularly with Enfusion, these acquisitions are poised to accelerate Clearwater's growth and improve key valuation metrics, making it a compelling investment. Read the full article on Seeking Alpha
Seeking Alpha • Feb 23

Clearwater Analytics Holdings: Growth Outlook Remains Very Robust

Summary Clearwater Analytics Holdings' 4Q24 performance shows strong revenue growth momentum, with a 27.7% y/y increase and ARR up 25.3% y/y, signaling robust demand. The pending $1.5 billion acquisition of Enfusion significantly broadens CWAN's TAM, enabling front-to-back investment management solutions and international expansion. CWAN's gross margin expanded to 78.8% in 4Q24, with management guiding for >80% margins, driven by AI-driven automation and operational efficiencies. Read the full article on Seeking Alpha
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New Narrative • Feb 07

Global Expansion, Generative AI, And Snowflake Partnership Will Drive Future Success

Strategic global expansion, upselling, and partnerships position the company for potential revenue growth and improved margins.
Seeking Alpha • Dec 04

Clearwater Analytics Holdings: Positive On Growth Acceleration

Summary I maintain a buy rating for Clearwater Analytics Holdings with an upgraded price target of $38, driven by robust growth prospects and strong demand. Key growth drivers include successful cross-selling of new products and revenue tailwinds from interest rate reductions, supporting mid-20s% revenue growth in the coming years. High incremental margins from these growth drivers suggest CWAN could exceed its FY24 adj EBITDA guidance, especially with continued Fed rate cuts. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:CWAN - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20281,288146315N/A3
12/31/20271,114782793147
12/31/2026952211952272
3/31/2026826-48142169N/A
12/31/2025731-39154176N/A
9/30/20256403928291N/A
6/30/20255514068592N/A
3/31/20254764298389N/A
12/31/20244524246974N/A
9/30/20244241122128N/A
6/30/2024403-5104109N/A
3/31/2024386-158187N/A
12/31/2023368-227985N/A
9/30/2023352-207379N/A
6/30/2023334-215562N/A
3/31/2023317-135259N/A
12/31/2022303-85058N/A
9/30/2022291-54552N/A
6/30/2022278-103845N/A
3/31/2022266-112329N/A
12/31/2021252-8-23N/A
9/30/2021237-78-46-42N/A
6/30/2021226-58-38-34N/A
3/31/2021213-48-35-31N/A
12/31/2020203-44-10-6N/A
12/31/20191688N/A-230N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CWAN is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (3.5%).

Earnings vs Market: CWAN is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CWAN is expected to become profitable in the next 3 years.

Revenue vs Market: CWAN's revenue (13.8% per year) is forecast to grow faster than the US market (11.6% per year).

High Growth Revenue: CWAN's revenue (13.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: CWAN's Return on Equity is forecast to be low in 3 years time (10.5%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/11 15:54
End of Day Share Price 2026/05/08 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Clearwater Analytics Holdings, Inc. is covered by 15 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andrew SchmidtCitigroup Inc
Peter HeckmannD.A. Davidson & Co.
Gabriela BorgesGoldman Sachs