Guidewire price target raised to $205 from $200 at Wells Fargo

Wells Fargo analyst Michael Turrin raised the firm’s price target on Guidewire to $205 from $200 and keeps an Overweight rating on the shares. Guidewire did not disappoint at their Analyst Day on Thursday, where long-term support and service and overall operating margin targets of 80% and 40%, respectively, were above Street expectations, the analyst tells investors in a research note. The business continues to scale as company win rates keep improving and cloud deal ramps flow through the model, the firm says.