12 Best Technology Penny Stocks To Buy According to Hedge Funds

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9. Clarivate Plc (NYSE:CLVT)

Number of Hedge Fund Investors: 18

Stock Price as of December 23: $4.98

Clarivate Plc (NYSE:CLVT) is a leading global information services company that provides insights and analytics to accelerate innovation. With a portfolio of flagship solutions, including ProQuest One, Web of Science, Derwent, CompuMark, Cortellis, Alma, and IPFolio, the company serves a diverse range of customers, including academic institutions, pharmaceutical companies, corporate entities, and law firms.

Clarivate Plc (NYSE:CLVT) is focusing on core subscription and recurring revenue streams. The company plans to convert certain product lines that have low-profit margins and weak cash flow characteristics into recurring revenue streams. This strategy aims to improve revenue predictability and profitability, making the company more resilient against market headwinds. Clarivate Plc (NYSE:CLVT) has recently converted its Life Science disease landscape & forecast data reports service from a transactional to a subscription-based revenue model and plans to extend recurring revenue models across other business segments.

Clarivate Plc (NYSE:CLVT) is leveraging AI as a key enabler of innovation, with successful implementations in academic research assistance in Web of Science and Primo, which are being extended to additional Academia & Government Consulting Services products such as ProQuest, a research and learning solution. Additionally, Clarivate Plc (NYSE:CLVT) is developing a next-generation Web of Science research intelligence platform powered by AI, which will empower researchers and research institutions to accelerate web sources and better measure the impact of their research.

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