Guidewire price target raised to $115 from $96 at RBC Capital

RBC Capital raised the firm’s price target on Guidewire to $115 from $96 and keeps an Outperform rating on the shares. The company reported a “solid” quarter with in-line ARR growth and “strong” cloud momentum, the analyst tells investors in a research note. Guidewire’s margins were also impressive once again, RBC states, adding that it came away “encouraged” in the company and its status as one of the firm’s “top defensive picks”.