In a report released yesterday, Monika Garg from KeyBanc maintained a Buy rating on Guidewire (GWRE), with a price target of $108. The company’s shares closed on Friday at $82.80.
Garg commented:
“We recently visited Guidewire on our bus tour, and met with CFO Curtis Smith and VP of Finance Jeff Cooper. We come away with a better view of the dynamics leading to the longer-than-expected cloud engagements. Despite this, cloud customer interest remains high, and we believe the Company’s five-year targets remain intact. We believe we could see a more smooth transition following the completion of 10-12 cloud deals. for its market- leading position and growth opportunities from its migration to the cloud. Meetings provide more color on longer deal dynamics. Guidewire provided more color on why cloud deals are taking longer to close. Nearly all questions focused around this topic.”
According to TipRanks.com, Garg is a 5-star analyst with an average return of 20.5% and a 64.3% success rate. Garg covers the Technology sector, focusing on stocks such as Oracle Corp, Wix.com Ltd, and Autodesk.
Currently, the analyst consensus on Guidewire is a Moderate Buy with an average price target of $108.80, which is a 31.4% upside from current levels. In a report issued on December 5, D.A. Davidson also maintained a Buy rating on the stock with a $118 price target.
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Based on Guidewire’s latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of $5.49 million. In comparison, last year the company had a GAAP net loss of $8.91 million.
Based on the recent corporate insider activity of 115 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Craig Conway, a Director at GWRE bought 1,019 shares for a total of $46,670.
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Guidewire Software, Inc. engages in the provision of software products for property and casualty insurers. Its products include InsuranceSuite, PolicyCenter, ClaimCenter, Add-on Modules, Underwriting Management, DataHub, InfoCenter, GuidewireLive, Predictive Analytics, Digital Portals, and InsuranceNow.
