Guidewire price target lowered to $242 from $267 at Citi

Citi lowered the firm’s price target on Guidewire (GWRE) to $242 from $267 and keeps a Neutral rating on the shares. The firm does not view the company’s upcoming fiscal Q1 report as a big share catalyst with seasonality likely limiting the upside to consensus estimates. Citi’s intra-quarter channel checks indicated positive cloud momentum with tier one insurers, but it keeps a Neutral rating on the shares due to valuation.