Guidewire hits record high on upbeat forecast after quarterly revenue beat

Guidewire Software

06/09/2024 17:19

** Guidewire Software's  GWRE.N  shares rise 11% to hit
record high of $159.60
    ** Insurance software provider on Thursday reported Q4
revenue of $291.5 mln, beating LSEG estimate of $283.9 mln
    ** Forecasts Q1 revenue between $251 mln and $257 mln, above
estimate of $250.3 mln
    ** Sees FY25 revenue between $1.14 bln and $1.15 bln, also
above estimate of $1.13 bln 
    ** J.P.Morgan point to solid pipeline of deals and
acceleration in migration activity 
    ** Particularly encouraged by carriers willing to make
larger commitments and initiate sizable migration as confidence
in company's platform grows - brokerage
    ** Including session's move, Guidewire's shares up 46.7% YTD

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))