Guidewire Software (NYSE:GWRE) Price Target Increased to $65.00 by Analysts at Wells Fargo & Company

Posted by Defense World Staff on Jun 3rd, 2023

Guidewire Software (NYSE:GWRE – Get Rating) had its price target increased by Wells Fargo & Company from $60.00 to $65.00 in a research note issued to investors on Friday morning, The Fly reports.

Other research analysts have also recently issued research reports about the stock. JMP Securities restated a market outperform rating and set a $95.00 price target on shares of Guidewire Software in a research note on Tuesday, March 7th. Robert W. Baird raised their price objective on shares of Guidewire Software from $75.00 to $80.00 and gave the stock a neutral rating in a report on Tuesday, March 7th. StockNews.com started coverage on shares of Guidewire Software in a report on Thursday, May 18th. They set a hold rating for the company. Royal Bank of Canada reaffirmed an outperform rating and set a $90.00 price objective on shares of Guidewire Software in a report on Tuesday, March 7th. Finally, DA Davidson raised their price objective on shares of Guidewire Software from $90.00 to $94.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $85.09.

Guidewire Software Trading Down 14.5 %

NYSE GWRE opened at $70.84 on Friday. Guidewire Software has a 1-year low of $52.08 and a 1-year high of $83.51. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $5.78 billion, a PE ratio of -35.42 and a beta of 1.26. The firm’s fifty day simple moving average is $78.41 and its 200-day simple moving average is $71.49.

Guidewire Software (NYSE:GWRE – Get Rating) last posted its earnings results on Monday, March 6th. The technology company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.17). The business had revenue of $232.61 million for the quarter, compared to analyst estimates of $222.13 million. Guidewire Software had a negative return on equity of 12.63% and a negative net margin of 19.19%. As a group, sell-side analysts anticipate that Guidewire Software will post -1.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,265 shares of the company’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $77.17, for a total transaction of $406,300.05. Following the completion of the sale, the chief executive officer now owns 193,045 shares in the company, valued at approximately $14,897,282.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael George Rosenbaum sold 5,265 shares of the business’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $77.17, for a total value of $406,300.05. Following the completion of the transaction, the chief executive officer now owns 193,045 shares of the company’s stock, valued at approximately $14,897,282.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John P. Mullen sold 11,576 shares of the business’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $77.17, for a total transaction of $893,319.92. Following the completion of the transaction, the insider now directly owns 131,533 shares of the company’s stock, valued at approximately $10,150,401.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,253 shares of company stock worth $2,024,289. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP acquired a new position in Guidewire Software in the 4th quarter worth $25,000. Huntington National Bank boosted its stake in Guidewire Software by 261.7% in the 4th quarter. Huntington National Bank now owns 463 shares of the technology company’s stock worth $29,000 after purchasing an additional 335 shares during the period. Allworth Financial LP boosted its stake in Guidewire Software by 52.1% in the 1st quarter. Allworth Financial LP now owns 397 shares of the technology company’s stock worth $33,000 after purchasing an additional 136 shares during the period. Western Pacific Wealth Management LP boosted its stake in Guidewire Software by 41.8% in the 4th quarter. Western Pacific Wealth Management LP now owns 597 shares of the technology company’s stock worth $37,000 after purchasing an additional 176 shares during the period. Finally, HighMark Wealth Management LLC acquired a new position in Guidewire Software in the 1st quarter worth $40,000.

About Guidewire Software

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Guidewire Software, Inc engages in the provision of technology platform, which comprises software, services, and a partner ecosystem, for the global Property and Casualty insurance industry. Its products include InsuranceSuite, PolicyCenter, ClaimCenter, BillingCenter, InsuranceNow, Analytics, Ecosystem, Guidewire for salesforce, and Guidewire Cloud.