These Analysts Boost Price Targets On Guidewire Software Following Q2 Results

Guidewire Software, Inc. GWRE reported better-than-expected sales for its second quarter.

Guidewire Software posted a Q2 loss of $0.21 per share, missing market estimates of $0.03 per share. The company’s quarterly sales came in at $232.61 million, versus expectations of $223.21 million.

Guidewire Software said it sees Q3 revenue of $211 million to $216 million, versus expectations of $213.7 million, The company expects FY23 revenue of $894 million to $904 million, versus estimates of $984.45 million.

Guidewire Software shares fell 2.3% to close at $71.52 on Monday and added 1.1% in after-hours trading.

These analysts made changes to their price targets on Guidewire Software following the release of results.

• Wells Fargo raised the price target on Guidewire Software from $55 to $60. Wells Fargo analyst Michael Turrin maintained an Underweight rating.
• Baird increased the price target on Guidewire Software from $75 to $80. Baird analyst Joe Vruwink maintained a Neutral rating.
• Stifel raised the price target on Guidewire Software from $60 to $72. Stifel analyst Parker Lane maintained a Hold rating.
• JMP Securities analyst Joe Goodwinm meanwhile, reiterated Guidewire Software with a Market Outperform and maintained a $95 price target.

Read More: $1M Bet On Domino's Pizza? Check Out These 4 Stocks Insiders Are Buying