Guidewire price target raised to $230 from $220 at Oppenheimer

Oppenheimer raised the firm’s price target on Guidewire (GWRE) to $230 from $220 and keeps an Outperform rating on the shares. Guidewire reported annual recurring revenue above consensus estimates, driven by strong T-1 demand, the analyst tells investors in a research note. The firm still sees headroom to estimates with conversions, Direct Written Premium true-ups and cloud efficiency gains potential sources of upside.