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MarketBeat
MarketBeat
Business
Thomas Hughes

Guidewire Rockets Higher: A Move Above $300 Is Probable

Guidewire MarketBeat GWRE
[content-module:CompanyOverview|NYSE:GWRE]

Guidewire (NYSE: GWRE) stock is rocketing higher because its AI-enabled, cloud-based SaaS platform service for insurance companies is crushing the estimates. The FQ3 results were so far above the consensus estimate that they have entirely altered the outlook for this company. The takeaway for traders and investors is that the news sparked a 15% surge in the stock price, breaking it out of a significant consolidation pattern and setting a new high.

The stock price is likely to continue rising in this scenario and could easily surpass the $300 mark this year. 

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