RBC Reiterates Outperform on Clearwater Analytics (CWAN) Amid Platform Expansion

Clearwater Analytics Holdings Inc. (NYSE:CWAN) is one of the best low-priced technology stocks to buy right now. Clearwater Analytics Holdings (NYSE:CWAN) is sharpening its focus on the fast-growing private credit market. At its annual user conference, Connect ’25, on September 17, the company unveiled major enhancements to its Alternative Assets Solution, designed to streamline scalability and compliance in a $2.5 trillion sector.

The management highlighted that private credit has grown rapidly since 2018, but firms struggle with due diligence, fragmented systems, and compliance demands. Clearwater’s enhanced platform is already delivering efficiency gains for early users. With institutional allocations expected to increase by another 40% over the next three years, the company is well-positioned to support scaling into private markets.

Following the event, RBC Capital analyst Rishi Jaluria reiterated an Outperform rating with a $36 price target, highlighting that conference takeaways left him “incrementally positive” on the firm’s trajectory.

He emphasized that Clearwater’s current valuation of around $19 per share, or 19 times 2026E EV/EBITDA, represents a meaningful disconnect from its fundamentals. He believes that his implied multiple, closer to 34 times, appropriately reflects its growth profile.

Clearwater Analytics (NYSE:CWAN) provides SaaS-based investment accounting, reporting, and analytics solutions for institutional investors.

While we acknowledge the potential of CWAN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.