Guidewire Software (NYSE:GWRE) PT Lowered to $75.00 at Wells Fargo & Company

Posted by on Jun 8th, 2022

Guidewire Software (NYSE:GWRE – Get Rating) had its price target cut by Wells Fargo & Company from $85.00 to $75.00 in a report released on Wednesday, Stock Target Advisor reports. The brokerage presently has an “underweight” rating on the technology company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 6.33% from the stock’s current price.

Several other analysts have also recently commented on the company. Stifel Nicolaus reduced their target price on Guidewire Software from $100.00 to $85.00 in a report on Wednesday. StockNews.com cut Guidewire Software from a “hold” rating to a “sell” rating in a report on Wednesday, June 1st. JMP Securities upgraded Guidewire Software from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Friday, March 18th. BTIG Research reduced their target price on Guidewire Software from $146.00 to $125.00 in a report on Wednesday, March 9th. Finally, Citigroup reduced their target price on Guidewire Software from $89.00 to $88.00 and set a “neutral” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Guidewire Software has an average rating of “Hold” and an average price target of $111.89.

Shares of NYSE:GWRE traded down $0.36 during midday trading on Wednesday, hitting $80.07. 4,995 shares of the stock were exchanged, compared to its average volume of 647,940. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of -51.33 and a beta of 1.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 4.66 and a current ratio of 4.66. The business’s 50-day moving average price is $84.95 and its 200 day moving average price is $95.81. Guidewire Software has a 12 month low of $70.83 and a 12 month high of $130.95.

Guidewire Software (NYSE:GWRE – Get Rating) last released its quarterly earnings results on Tuesday, June 7th. The technology company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02. The company had revenue of $197.45 million for the quarter, compared to analysts’ expectations of $187.73 million. Guidewire Software had a negative return on equity of 6.50% and a negative net margin of 16.97%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.39) earnings per share. As a group, sell-side analysts expect that Guidewire Software will post -1.91 EPS for the current year.

In related news, insider Michael Polelle sold 562 shares of the company’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $87.92, for a total transaction of $49,411.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 3,806 shares of the company’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $87.92, for a total value of $334,623.52. The disclosure for this sale can be found here. Insiders have sold 7,444 shares of company stock worth $654,255 over the last ninety days. 0.17% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. UMB Bank N A MO bought a new stake in Guidewire Software during the fourth quarter worth $25,000. Psagot Value Holdings Ltd. Israel bought a new stake in Guidewire Software during the fourth quarter worth $685,000. Ellevest Inc. bought a new position in Guidewire Software in the 4th quarter valued at $32,000. Altshuler Shaham Ltd bought a new position in Guidewire Software in the 3rd quarter valued at $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Guidewire Software in the 1st quarter valued at $31,000.

Guidewire Software Company Profile (Get Rating)

Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.

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