Stifel analyst J. Parker Lane maintains $Guidewire Software (GWRE.US)$ with a buy rating, and adjusts the target price from $200 to $220.
According to TipRanks data, the analyst has a success rate of 51.1% and a total average return of 2.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Guidewire Software (GWRE.US)$'s main analysts recently are as follows:
Following attendance at Guidewire's annual customer and partner event, the Connections conference in Nashville, it was noted that management emphasized the benefits of moving from on-premise solutions to the latest upgrades. The transition of nearly half of Guidewire's core customers to cloud-based services, and the expectation of an increasing trend aided by enhanced AI features in the future, were highlighted as positive developments.
The firm highlighted Guidewire as a top recommendation, citing an improving demand in cloud services evidenced from partner surveys. This demand builds on an already robust environment projected for FY23-24, with significant potential noted in migrations, and in regions and business lines that are currently under-penetrated.
Positive sentiment surrounds Guidewire following in-depth engagement at their Connections event, including product sessions, partner and customer interactions, and discussions with management. The CEO's reiterated commitment to driving customer success and progressing towards cloud solutions was highlighted.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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