Guidewire price target raised to $126 from $110 at DA Davidson

DA Davidson analyst Peter Heckmann raised the firm’s price target on Guidewire to $126 from $110 and keeps a Buy rating on the shares ahead of its Q1 results next week. Following a “constructive” Investor Day presentation, the company is expected to meet or modestly exceed the firm’s forecasts, and the management will affirm or modestly fine-tune their fiscal 2024 guidance ranges, the analyst tells investors in a research note. The firm adds that its increased price target incorporates the management’s commentary on higher margins.