Guidewire Software (GWRE): Analyst Day Notes - UBS

September 29, 2016 8:48 AM EDT
Get Alerts GWRE Hot Sheet
Price: $57.77 -0.48%

Rating Summary:
    7 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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UBS analyst, Brent Thill, reiterated his Buy rating on shares of Guidewire (NYSE: GWRE) after an uneventful analyst day.

GWRE's newer lines of Data/Digital products accounted for 25% of new bookings in FY16, and the products grew 90%+ from a customer count standpoint. With more new products/services in the pipeline, the analyst is confident that GWRE can continue to achieve its goal of 20%+ term license growth for the foreseeable future.

The analyst believes that GWRE is only 17% penetrated from a share of wallet standpoint across its entire customer base, and only 6% penetrated across its addressable market. It is now ~12 months from F4Q15 when GWRE landed 5 Tier 1 carriers and the analyst expects that this FY may see upside to both revenues and margins from large carrier expansion opportunities.

No change to the price target of $70.

For an analyst ratings summary and ratings history on Guidewire click here. For more ratings news on Guidewire click here.

Shares of Guidewire closed at $60.08 yesterday.

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