Movement Alert｜Guidewire Rises 6.41% in Regular Trading on Major Cloud Platform Win
Market Focus
Oct 06
On October 6, Guidewire rose 6.41% in Regular Trading, trading at $161.69 per share with turnover of $107 million. The stock movement follows Guidewire's announcement of signing a multi-year agreement with one of its top-ten Property & Casualty insurance clients for implementation of its PolicyCenter cloud platform, expected to drive deeper core product penetration and enhance annual recurring revenue capacity.
This deal represents a key milestone in Guidewire's cloud migration strategy, following a recent pattern of strong recurring revenue performance highlighted in their fiscal year-end results where they outperformed guidance and forecasted 18% revenue growth for the coming year.
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