Zacks: Brokerages Expect CCC Intelligent Solutions Holdings Inc (NYSE:CCCS) Will Post Quarterly Sales of $181.84 Million

Wall Street analysts predict that CCC Intelligent Solutions Holdings Inc (NYSE:CCCS) will announce $181.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for CCC Intelligent Solutions’ earnings, with the lowest sales estimate coming in at $180.00 million and the highest estimate coming in at $182.83 million. The company is expected to issue its next quarterly earnings results on Wednesday, February 9th.

According to Zacks, analysts expect that CCC Intelligent Solutions will report full-year sales of $683.04 million for the current financial year, with estimates ranging from $681.20 million to $684.03 million. For the next financial year, analysts forecast that the company will post sales of $760.60 million, with estimates ranging from $758.80 million to $763.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover CCC Intelligent Solutions.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Wednesday, November 10th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.02). The firm had revenue of $176.63 million during the quarter, compared to the consensus estimate of $173.02 million.

A number of research analysts have recently commented on the company. William Blair reissued a “buy” rating on shares of CCC Intelligent Solutions in a report on Thursday, November 11th. Zacks Investment Research raised CCC Intelligent Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, January 4th. Finally, JPMorgan Chase & Co. lowered CCC Intelligent Solutions from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $14.00 to $12.00 in a report on Tuesday, December 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.00.

Several hedge funds have recently made changes to their positions in CCCS. Capital Research Global Investors bought a new position in shares of CCC Intelligent Solutions during the 3rd quarter worth approximately $118,840,000. Janus Henderson Group PLC bought a new position in shares of CCC Intelligent Solutions during the 3rd quarter worth approximately $57,107,000. Glenview Capital Management LLC bought a new position in shares of CCC Intelligent Solutions during the 3rd quarter worth approximately $25,287,000. Geode Capital Management LLC bought a new position in shares of CCC Intelligent Solutions during the 3rd quarter worth approximately $5,422,000. Finally, Think Investments LP bought a new position in CCC Intelligent Solutions in the 3rd quarter valued at $417,000. Institutional investors own 94.99% of the company’s stock.

Shares of NYSE CCCS traded up $0.21 during mid-day trading on Friday, hitting $10.64. 1,643,246 shares of the company traded hands, compared to its average volume of 689,116. The business’s 50 day moving average is $11.78. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. CCC Intelligent Solutions has a 1 year low of $8.58 and a 1 year high of $16.11.

About CCC Intelligent Solutions

Dragoneer Growth Opportunities Corp. is a blank check company. It aims to acquire a business via a merger, capital stock exchange, asset acquisition, stock purchase and reorganization. Dragoneer Growth Opportunities Corp. is based in San Francisco, California.

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