Guidewire price target raised to $141 from $115 at JMP Securities

JMP Securities analyst Aaron Kimson raised the firm’s price target on Guidewire to $141 from $115 and keeps an Outperform rating on the shares. Guidewire reported strong quarterly results, and even though its guidance was mixed, the firm continues to like the stock as an opportunity for long-term capital appreciation for a number of reasons, including that the company raised its FY24 annual recurring revenue guidance by $5M at the midpoint, demonstrating continued cloud momentum, and remains on pace to accelerate FY25 ARR growth, the analyst tells investors in a research note.