Fly News Breaks for March 5, 2020
Mar 5, 2020 | 08:32 EDT
Baird analyst Joe Vruwink lowered the firm's price target on Guidewire to $124 from $143 and keeps an Outperform rating on the shares. The analyst said its new sales are experiencing a faster shift to the cloud while an increasing number of customer/prospects also contemplate cloud-based systems. He said a by-product of this dynamic is lower on-prem term license revenue resulting in lowered guidance.
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