preloader icon

Apex Trader Funding (ATF) - News

Guidewire Gains 24% Year to Date: Will the Rally Last?

Guidewire Software's (NYSE: GWRE) shares have been performing well on the trading front with a gain of 24.3% year to date compared with 14.9% growth of the S&P 500 composite. The sub-industry has declined 2.3% over the same time frame. Guidewire is a provider of software solutions for P&C insurers. Its cloud platform boasts a trusted infrastructure with modular and interconnected cloud services to aid insurers in upgrading their core operations. The platform has scalability as well as the ability to embed analytics and core workflows. The company updates its cloud platform thrice a year to keep the system agile and nimble amid a constantly evolving P&C industry. Solid financial performance is driving a good run on the trading front. The company's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 109.2%. Since the last earnings announcement on Jun 4, its shares have surged 25.5%. The stock is still down 1.8% from its 52-week high level of $138.15. Image Source: Zacks Investment Research Factors Driving Growth The focus on cloud strategy has been paying off for Guidewire, as evidenced by increasing sales. In the last reported quarter, the company's total revenues were $240.7 million, up 16% year over year. The revenues surpassed the Zacks Consensus Estimate by 4%. The uptick was driven by solid Tier-1 deal volume and increasing migration activity, especially in Asia Pacific. Guidewire Cloud continued to gain momentum in the reported ...