Guidewire price target raised to $200 from $185 at Oppenheimer

Oppenheimer raised the firm’s price target on Guidewire to $200 from $185 and keeps an Outperform rating on the shares following the analyst day. The company formalized fiscal 2028 targets and introduced new long-term margin targets, the analyst tells investors in a research note. The firm says that while management moved away from establishing new long-term annual recurring revenue targets, it provided potential long-term profitability targets for 80% subscription and support gross margin and 40% non-GAAP EBIT, which was better than expected. Oppenheimer says Guidewire remains a top idea given its “durable margin expansion and ARR growth story.”