Citi analyst Tyler Radke raised the firm’s price target on Guidewire to $122 from $109 and keeps a Neutral rating on the shares. Guidewire’s Q2 deal activity remained strong with ARR slightly beating the high end of the guidance and the company closing 11 deals in the quarter, which included 10 InsuranceSuite Cloud deals and 4 tier 1 deals, the firm said in a research note on Friday. Revenue was mostly in-line with expectations with true-ups from license revenue offsetting the weaker services revenue, Citi adds.
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