Guidewire slides after Q2 forecast falls short of investor expectations

Guidewire Software

06/12/2024 16:06

** Shares of insurance software provider Guidewire  GWRE.N 
slide 14.3% to $176.99
    ** GWRE late on Thursday forecast Q2 annual recurring
revenue to be between $909 mln and $914 mln
    ** Oppenheimer says Q2 ARR forecast fell short of bullish
investor expectations      
    ** Brokerage says Q2 being GWRE's second-largest bookings
quarter likely contributed to the optimism among investors
    ** Wells Fargo Securities expects limited near-term
catalysts to keep stock range-bound after strong outperformance 
  
    ** As of last close, GWRE shares up 89.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))