Wells Fargo analyst Michael Turrin lowered the firm’s price target on Guidewire to $55 from $60 and keeps an Underweight rating on the shares. Guidewire’s seasonally light set of Q1 results were mostly in-line and modestly above his estimates with $5M better-than-expected ARR, $3M better-than-expected revenue, and op income $7M above his estimate. This said, the 2023 revised guide was relatively unchanged, Turrin points out.
Published first on TheFly
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