Guidewire Software Price Target Raised to $50.00 at Pacific Crest (GWRE)
Research analysts at Pacific Crest boosted their price target on shares of Guidewire Software (NASDAQ:GWRE) from $47.00 to $50.00 in a report released on Tuesday, Analyst Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Pacific Crest’s target price indicates a potential upside of 9.10% from the stock’s previous close.
The analysts wrote, “After meeting with Guidewire’s CEO, Marcus Ryu, and CFO, Karen Blasing, we have greater confidence in Guidewire’s long-term opportunity, but we are concerned that FQ2 expectations are too high. Our revenue estimates are about 5% lower than consensus, which we believe reflects seasonality. Management has not guided to FQ2. Our estimates mirror last year’s seasonality. Last year, Q2 would have been 22.5% of annual revenue. We have Q2 at 21.9% of F14 revenue, compared to consensus to 23.3%. When asked about seasonality, Ms. Blasing said that there is no reason for seasonality to change this year.”
GWRE has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Guidewire Software from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, October 4th. They now have a $51.70 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Guidewire Software in a research note to investors on Wednesday, September 4th. They now have a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Guidewire Software presently has an average rating of “Buy” and a consensus target price of $47.62.
Guidewire Software (NASDAQ:GWRE) traded down 0.20% during mid-day trading on Tuesday, hitting $45.74. 203,369 shares of the company’s stock traded hands. Guidewire Software has a 52-week low of $25.46 and a 52-week high of $49.14. The stock’s 50-day moving average is $46.59 and its 200-day moving average is $42.60. The company has a market cap of $2.650 billion and a price-to-earnings ratio of 183.32.
Guidewire Software (NASDAQ:GWRE) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.11. The company had revenue of $96.90 million for the quarter, compared to the consensus estimate of $93.10 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 43.3% on a year-over-year basis. Analysts expect that Guidewire Software will post $0.26 EPS for the current fiscal year.
In other Guidewire Software news, Director Kenneth W. Branson sold 25,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $47.17, for a total value of $1,179,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Guidewire Software, Inc (NASDAQ:GWRE), is a provider of system software to the global property and casualty insurance industry.
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