Guidewire price target raised to $230 from $215 at RBC Capital

RBC Capital raised the firm’s price target on Guidewire (GWRE) to $230 from $215 and keeps an Outperform rating on the shares after its Q1 earnings beat. The company reported a strong start to the fiscal year but shares sold off after-hours, with investors possibly looking for a guidance raise as annual recurring revenue landed at the high end of guidance, the analyst tells investors in a research note. RBC adds however that Guidewire remains a high-quality vertical software name that the firm would want to own for duration.