Clarivate PLC Ordinary Shares

CLVT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$3.90	Kgrxr	Mfr

Clarivate Earnings: Shares Fall Despite In-Line Results; Shares Undervalued

Rob Hales

May 9, 2024

No-moat Clarivate’s first-quarter results were broadly in line with FactSet consensus and management guidance. Nevertheless, shares fell 11% on the day. We surmise the market was hoping for better near-term indications of a revenue growth inflection. While performance remains challenged, this was in our expectations so we don’t expect to make a material change to our $7.80 per share fair value estimate. At current levels, the shares now look undervalued.

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