Guidewire price target raised to $110 from $90 at BTIG

BTIG raised the firm’s price target on Guidewire to $110 from $90 and keeps a Buy rating on the shares. The company’s recent Analyst Day presentation highlighted the recent uptick in the pace of innovation as one of the biggest driving factors in the improving ARR growth and momentum in cloud migrations, the analyst tells investors in a research note. Guidewire’s latest cloud version release, Innsbruck, is also part of a plan for three updates a year – up from two – and allows the company to create smaller bite-sized updates to reduce migration friction, improving the ease and speed of upgrades, the firm added.