Guidewire price target raised to $136 from $126 at DA Davidson

DA Davidson analyst Peter Heckmann raised the firm’s price target on Guidewire to $136 from $126 and keeps a Buy rating on the shares. The company reported better than expected Q2 revenue and operating income that was 37% than the firm’s forecast, the analyst tells investors in a research note. While the management trimmed the midpoint of revenue guidance by around 2% due to lower Services revenue, the continued momentum in Guidewire’s cloud deals provides confidence that the company is making the right moves to allow it to remain the long-term leader in the InsureTech space, the firm added,