RBC Capital lowered the firm’s price target on Guidewire (GWRE) to $250 from $300 and keeps an Outperform rating on the shares. The company delivered solid Q2 results and the firm continues to see Guidewire as one of the more defensive assets in Software, the analyst tells investors in a research note. RBC is cutting its price target however, due to vertical SaaS multiple compression.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GWRE:
- Guidewire price target lowered to $250 from $300 at Stifel
- Guidewire price target raised to $200 from $175 at BTIG
- Guidewire: Strong Cloud and AI-Driven Momentum but Premium Valuation Justifies Hold Rating
- Guidewire: Robust Demand, AI-Driven Platform Adoption, and Raised Guidance Support Buy Rating and Long-Term Growth Outlook
- Closing Bell Movers: Marvell up 15% after earnings beat