Guidewire price target raised to $195 from $165 at BTIG

BTIG raised the firm’s price target on Guidewire to $195 from $165 and keeps a Buy rating on the shares ahead of its investor day. The analyst expects the company to provide an update on its ongoing cloud migration. Proceeding from here requires some short-term caution, and potentially patience, depending on the time horizon, but ultimately is another stop along the journey of Guidewire capturing a “more substantial market share leadership position,” the firm told investors in a research note. BTIG remains bullish on the company in the long-term, but recommends those operating in the short term understand the potential for volatility following the event.