Oppenheimer raised the firm’s price target on Guidewire to $100 from $95 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company saw strength across all elements of the business led by cloud momentum, while the CFO has also indicated that the strength of contracted annual recurring revenue, ARR ramps gave the management the confidence to complement FY24 outlook with reiterated FY25 ARR target of $1B, the analyst tells investors in a research note. Oppenheimer adds that it is encouraged by Guidewire’s execution against margin targets and solid sales activity.
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- Guidewire Stock (NYSE:GWRE) Down Despite Better-Than-Expected Q4 Results
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