Guidewire price target raised to $220 from $200 at Stifel

Stifel analyst J. Parker Lane raised the firm’s price target on Guidewire (GWRE) to $220 from $200 and keeps a Buy rating on the shares. After having attended Guidewire’s annual gathering of customers and partners, its Connections conference in Nashville, the firm notes that management pitched customers on the merits of transitioning from on-prem solutions and upgrading to its latest releases at the event. The firm is “notably impressed” by Guidewire nearly crossing the 50% mark of core customers committed to the cloud, and believes that number should continue to trend higher with AI features in coming years, the analyst tells investors.