Guidewire slides as Q1 outlook underwhelms
BUZZ-Guidewire slides as Q1 outlook underwhelms ** Shares of Guidewire GWRE.N, which provides software for property and casualty insurers, slide 21% to $160.36
** GWRE late Thursday forecast Q1 revenue below Wall Street expectations
** "With the stock sharply re-rating post F3Q and into the print, the bar was clearly higher" - Stifel
** "Feedback suggests any perceived disappointment was relative to expectations rather than concerns over fundamentals" - Oppenheimer
** 14 of 16 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $215 - data compiled by LSEG
** As of last close, GWRE stock up ~1% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
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