Guggenheim initiated coverage of Guidewire Software (GWRE) with a buy rating.
The firm set a price target of $180.00.
This target suggests a potential upside of over 34% from the current share price.
Analysts cite Guidewire’s leadership in the property and casualty insurance industry’s transition to cloud and artificial intelligence.
The company is expanding from insurance claims into policy administration and billing.
This expansion positions Guidewire as a primary system of record for the insurance sector.
Guggenheim forecasts durable high-teens growth for the company over the next several years.