Guidewire Software Sees Large Volume Increase Following Strong Earnings (GWRE)
Guidewire Software (NASDAQ:GWRE) shares saw unusually-high trading volume on Tuesday following a stronger than expected earnings report, AnalystRatingsNetwork.com reports. Approximately 1,096,545 shares traded hands during trading, an increase of 171% from the previous session’s volume of 404,196 shares.The stock last traded at $45.82 and had previously closed at $45.55.
The company reported $0.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.09. The company had revenue of $118.20 million for the quarter, compared to the consensus estimate of $112.66 million. During the same quarter last year, the company posted $0.25 earnings per share. Guidewire Software’s revenue was up 22.0% compared to the same quarter last year.
A number of analysts have recently weighed in on GWRE shares. Analysts at Stephens initiated coverage on shares of Guidewire Software in a research note on Tuesday, August 12th. They set an “overweight” rating on the stock. Analysts at Zacks downgraded shares of Guidewire Software from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 5th. They now have a $44.80 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Guidewire Software currently has an average rating of “Hold” and a consensus price target of $52.16.
In other Guidewire Software news, CFO Karen Blasing sold 1,500 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $45.00, for a total value of $67,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
The stock’s 50-day moving average is $41.26 and its 200-day moving average is $42.97. The company’s market cap is $3.141 billion.
Guidewire Software, Inc (NASDAQ:GWRE), is a provider of system software to the global property and casualty insurance industry.
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