DA Davidson analyst Rishi Jaluria initiated Guidewire with a Buy rating and a price target of $92, saying the company enjoys a market leadership position, benign competitive environment and an attractive financial model. Jaluria adds that Guidewire is currently in transition across multiple vectors, including cloud, international, and integration of acquisitions. While the current financial model is somewhat "messy", the analyst contends that Guidewire's position in core applications for P&C insurers and offerings of upgrading enterprise IT environments can produce double digit margin expansion over the next several years.