Clearwater Analytics jumps after strong annual forecast

Clearwater Analytics Holdings

20/02/2025 12:46

** Shares of investment accounting software provider
Clearwater Analytics  CWAN.N  jump 14.6% to $31 premarket
    ** CWAN late Wednesday forecast FY 2025 revenue to be
between $535.5 million and $542 million vs Wall Street
expectations of $533.3 million, according to estimates compiled
by LSEG
    ** Co reported record quarterly revenue of $126.5 million,
beating estimates of $120.3 million
    ** J.P. Morgan says it was impressed by a number of
record-high metrics in the results, but the biggest surprise was
the record net revenue retention (NRR) rate of 116%
    ** The NRR growth was supported by a better-than-expected
upsell and very strong price increases across all clients, JPM
says
    ** D.A. Davidson says it was pleasantly surprised by the
progress on the NRR metric
    ** Confident that our scalable platform will adeptly meet
the rising demand from asset owners and managers -  Clearwater
Analytics CEO Sandeep Sahai
    ** CWAN stock jumped 37.4% in 2024

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))