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Guidewire Software Analysts Raise Their Forecasts After Upbeat Q4 Earnings

Published 08/09/2023, 16:07
Updated 08/09/2023, 17:10
© Reuters. Guidewire Software Analysts Raise Their Forecasts After Upbeat Q4 Earnings

Benzinga - by Lisa Levin, Benzinga Editor.

Guidewire Software, Inc. (NYSE: GWRE) reported better-than-expected fourth-quarter earnings, but issued soft revenue guidance.

Guidewire Software posted adjusted earnings of 74 cents per share, beating market estimates of 38 cents per share. The company’s quarterly sales came in at $270.00 million versus expectations of $261.36 million.

Guidewire Software said it sees first-quarter total revenue of $197 million to $202 million, versus estimates of $212.51 million.

Guidewire Software shares jumped 11.7% to trade at $94.72 on Friday.

These analysts made changes to their price targets on Guidewire Software following earnings announcement.

  • Wells Fargo raised the price target on Guidewire Software from $85 to $90. Wells Fargo analyst Michael Turrin maintained an Equal-Weight rating.
  • Stifel increased the price target on Guidewire Software from $85 to $95. Stifel analyst Parker Lane maintained a Buy rating.
  • JP Morgan boosted the price target on Guidewire Software from $83 to $100. JP Morgan analyst Alexei Gogolev maintained an Overweight rating.
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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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