Guidewire price target raised to $130 from $110 at Stifel

Stifel analyst J. Parker Lane raised the firm’s price target on Guidewire to $130 from $110 and keeps a Buy rating on the shares after the company delivered top-line results that were largely in-line with expectations. The company’s focus on shifting implementation work to system integration partners is “a positive indicator of the success Guidewire has had in building an ecosystem around its cloud platform,” says the firm, which thinks the decision should result in an improved margin profile of the business in the long-run. The firm believes the quarter offered signals that cloud momentum remains strong and FY25 targets are still in view, the analyst added.