Guidewire Software (GWRE): Analyst Day Notes - UBS
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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.
Shares of Guidewire closed at $60.08 yesterday.
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