Investing.com - Piper Sandler assumed coverage on Clearwater Analytics Holdings (NYSE: CWAN ) with an Underweight rating and a price target of $27.00, according to a research note released Tuesday.

The investment firm noted that Clearwater Analytics is currently integrating three key acquisitions that will significantly expand its total addressable market (TAM) and create a full end-to-end platform for its clients.

Piper Sandler believes the integrated platform will provide upsell and cross-sell opportunities that will both expand wallet share among existing customers and drive higher win rates.

The $27.00 price target reflects the firm’s assessment of Clearwater’s current market position and growth potential as it works through these acquisitions.

Clearwater Analytics provides investment accounting, reporting, and analytics solutions for asset managers, insurance companies, and large corporations.

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