Wells Fargo analyst Michael Turrin maintains $Guidewire Software (GWRE.US)$ with a buy rating, and adjusts the target price from $185 to $200.
According to TipRanks data, the analyst has a success rate of 43.4% and a total average return of -3.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Guidewire Software (GWRE.US)$'s main analysts recently are as follows:
The insurance industry is described as 'relatively defensive' over the past year, with higher premiums favorably impacting insurance software budgets. Both industry and company-specific tailwinds are expected to support Guidewire into its next fiscal year, as it is poised to achieve mid-to-high teens growth due to acceleration from its cloud transition and market share gains.
In anticipation of the investor day on October 10, there is an expectation that management will set a formal timeline for achieving its $1.5B annual recurring revenue and operating cash flow margin goals of 29%-32%. This has led to an increased confidence in Guidewire's long-term growth potential.
The firm believes that Guidewire's recent analyst day likely provided insights into the main factors behind its recent performance improvements, progress towards its goals, and the long-term margin potential of the business, all of which come as investors are showing renewed interest. The firm anticipates that the stock will experience a well-deserved pause after the event.
Note:
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