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Fly News Breaks for June 6, 2018
GWRE
Jun 6, 2018 | 05:11 EDT
JPMorgan analyst Sterling Auty raised his price target for Guidewire Software to $100 saying cloud signings were good in Q3. The results are better than expected, but the cloud/subscription transition and ASC 606 accounting rule changes create a "number of moving parts that will generate noise in estimates and results over the next two years," Auty tells investors in a post-earnings research note. He believes, however, that investors should focus on the growth in cloud customer signings and cash flow. The analyst keeps an Overweight rating on Guidewire.
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