BUZZ-Clearwater Analytics jumps after strong annual forecast

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