William Blair has downgraded Clearwater Analytics Holdings Inc (CWAN) to Market Perform from Outperform, a move that underscores growing caution regarding the company's outlook. As of December 21, 2025, the stock is priced at $24.09.
This revision may reflect concerns about competitive pressures, market conditions, or execution risks that could impact Clearwater's performance. The firm, headquartered in Boise, Idaho, specializes in web-based investment portfolio accounting, reporting, and reconciliation services, employing 1,915 full-time staff. Since its IPO on September 24, 2021, Clearwater has positioned itself as a provider of enterprise risk analytics with a platform that integrates various investment management services.
Clearwater Analytics currently holds a market capitalization of $6.4 billion with a price-to-earnings ratio of 16.19 and earnings per share of 1.16. The company is scheduled to report its next earnings on April 29, 2026, with analysts estimating an EPS of $0.16 and revenue of $222.5 million.
Analyst ratings serve as professional opinions based on extensive research and financial models. While they can provide valuable insights, these assessments are inherently based on assumptions that may not always materialize. Investors are advised to consider a range of factors, including company fundamentals and industry trends, when making decisions. Notably, analyst views can evolve as new information becomes available, and there may be differing opinions on the same company.