Analysts Are Upgrading These 5 Stocks

04. Guidewire Software, Inc. (NYSE:GWRE)

Number of Hedge Fund Holders: 40

On June 27, Stifel upgraded its outlook for Guidewire Software, Inc. (NYSE:GWRE) from Hold to Buy. Prior to this upgrade, as of June 1, the average one-year price target for Guidewire Software, Inc. (NYSE:GWRE) was estimated to be $84.15. Various forecasts ranged from a low target of $60.60 to a high target of $99.75.

Alger Small Cap Focus Fund made the following comment about Guidewire Software, Inc. (NYSE:GWRE) in its Q1 2023 investor letter:

“Guidewire Software, Inc. (NYSE:GWRE), offers on-premises and cloud-based solutions for property and casualty (P&C) insurance companies, automating processes such as premium billings, claims management, and policy fulfillment. Under the InsuranceSuite brand, the company provides three core systems: BillingsCenter, ClaimsCenter, and PolicyCenter. During the period, shares contributed to performance after the company reported strong fiscal second quarter results, where revenues and operating profits exceeded analyst estimates. Moreover, strong performance was attributable to ongoing cloud traction as the company continued to see large cloud momentum across tier-1 and tier-2 carriers. Management also raised gross margin guidance by another 200 basis points for the full year, approximately 500 basis points ahead of what management projected in October 2022. We believe the company appears well positioned to capitalize on cloud transitions over the long-term.”