Guidewire price target lowered to $67 from $79 at Citi

Citi analyst Tyler Radke lowered the firm’s price target on Guidewire to $67 from $79 and keeps a Neutral rating on the shares. The company’s fiscal Q1 FQ1 "was relatively uneventful" with a modest annual recurring revenue beat, upside to profitability (and a reiteration of annual targets, Radke tells investors in a research note. The analyst says it is difficult to make significant conclusions post the Q1 print given the amplified seasonality trends.