7 Best Cheap Stocks To Buy Today Under $10

4. Clarivate (NYSE:CLVT)  

Number of Hedge Fund Investors: 27  

Forward P/E Ratio as of October 1: 9.41  

Clarivate (NYSE:CLVT) is a leading provider of information and analytics services to the research and intellectual property industries. The company was formed in 2016 through the combination of Thomson Reuters’ Intellectual Property & Science business and the Financial & Risk business of Thomson Reuters. Clarivate (NYSE:CLVT) is headquartered in London, United Kingdom, and has a presence in over 40 countries worldwide.

Clarivate’s (NYSE:CLVT) emphasis on subscription-based services generates consistent revenue streams, making it a key player in the data-driven services sector. In Q2, Clarivate’s (NYSE:CLVT) Academic and Government (A&G) segment reported a significant improvement in organic growth, driven by subscription revenue growth of more than 3% and renewal rates improving to over 96%.  In the IP segment, organic growth improved by 270 basis points, from -4.5% in Q1 to -1.8% in Q2, indicating stabilizing trends with regard to trademark search volumes. Organic growth in Clarivate’s (NYSE:CLVT) Life Sciences & Healthcare decelerating from 2.8% to 3.9%. However, analysts believe that this decline is largely due to the weak macro environment, which has put pressure on large pharma companies to be tight on their budgets. The segment will see a strong recovery in FY25 as pharma companies restart their R&D initiatives.

On September 23, Clarivate (NYSE:CLVT) announced a strategic partnership with Relatable Healthcare to deliver a comprehensive Product Relationship Management (PRM) platform for MedTech companies. The partnership combines Clarivate’s (NYSE:CLVT) competitive intelligence with Relatable’s PRM software to provide a single source of truth for product information, enabling medtech manufacturers and distributors to drive revenue growth and workflow efficiency. The Relatable platform will provide customers with access to a wealth of data, including product specifications, cross-references, inventory availability, and sales collateral.

Clarivate (NYSE:CLVT) is trading at a forward PE of 9.41, a 53.88% discount to its sector median of 20.40. Industry analysts have a consensus on the stock’s Buy rating, setting an average share price target at $7.61, which represents an 6.93% upside potential from its current level.