Guidewire price target lowered to $90 from $105 at BTIG

BTIG analyst Matt VanVliet lowered the firm’s price target on Guidewire to $90 from $105 to reflect current group multiples but keeps a Buy rating on the shares after its Q1 earnings beat. The company delivered "meaningful operating leverage" as its cloud transition story now enters the upswing phase in which there is increasing scale on the platform and upside to margins ahead, though the stock’s potential upside is "somewhat capped" in the short term, the analyst tells investors in a research note.