We recently published 10 Market Movers That Made Millionaires in a Week. Clearwater Analytics Holdings Inc. (NYSE:CWAN) is one of the best-performing stocks of the past trading week.
Clearwater surged by 18.97 percent week-on-week as investors snapped up shares following reports that it was considering a potential sale after receiving interest from prospective buyers.
According to a report by Bloomberg, citing sources privy to the matter, Clearwater Analytics Holdings Inc. (NYSE:CWAN) is now working with advisers to weigh its options and solicit interest from prospective buyers, which it later identified as Warburg Pincus and Permira.
Additionally, last week’s gains can be attributed to bargain-hunting after the company fell to a new record low, dampened by a dismal earnings performance in the third quarter of the year.
Photo by Ewan Buck on Unsplash
During the period, Clearwater Analytics Holdings Inc. (NYSE:CWAN) nosedived to a $10.3 million attributable net loss from a $3.6 million attributable net income in the same period last year.
Revenues, on the other hand, jumped by 77 percent to $205 million from $115.8 million in the same comparable period, beating its guidance of $203 million to $204 million.
For the full-year period, Clearwater Analytics Holdings Inc. (NYSE:CWAN) expects revenues to end at $730 million to $731 million, or an implied year-on-year growth of 62 percent.
In the fourth quarter alone, revenues are targeted at a range of $216 million to $217 million, or a year-on-year growth of 71 to 72 percent.
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Disclosure: None. This article is originally published at Insider Monkey.
