Guidewire Software up after DA Davidson raises PT

Guidewire Software

29/11/2023 17:40

** Shares of software company Guidewire Software Inc
 GWRE.N  rise 2.7% to $100 
    ** Brokerage D.A. Davidson & Co raises PT to $126 from $110,
maintains "buy" rating
    ** Brokerage says "multi-year transition towards delivering
cloud-based offerings continues to have the practical effect of
pressuring total revenue growth as License fee revenue is being
replaced by Subscription revenue"
    ** DA Davidson forecasts 2% year-over-year rev growth led by
33% Y/Y growth in subscription for Q1
    ** 10 of 14 brokerages rate the stock "buy" or higher, 3
"hold" and 1 "sell"; their median PT is $100 - LSEG data
    ** GWRE stock up 59.7%  YTD

 (Reporting by Priyanka.G in Bengaluru)
 ((priyanka.g@thomsonreuters.com;))