We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Guidewire's (GWRE) Insurance Cloud Platform Used by Ornikar
Read MoreHide Full Article
Guidewire Software (GWRE - Free Report) has announced that its Guidewire InsuranceSuite on Guidewire Cloud - has been selected by a France-based car insurance company - Ornikar.
Ornikar has become a leader in road safety education through its innovative online driving school model. The company plans to leverage Guidewire’s platform to design and provide new products to further enhance its motor insurance offering.
Per a report from IMARC, the global motor insurance market size reached $737.43 billion in 2021 and is expected to reach $988.79 billion by 2027, registering a CAGR of 4.7% from 2022 to 2027. The industry is expected to benefit from the significant rise in private cars and commercial vehicles and the government mandate to buy motor insurance, added the report.
Ornikar will also gain from Guidewire's cloud platform's most recent updates and top-tier features. Additionally, the company hopes that integrating Guidewire’s cloud will result in improved scalability and integration with other SaaS applications as it expands its business worldwide.
Guidewire continues to develop its cloud platform with new features such as digital frameworks, automation, tooling and other cloud services. Guidewire Cloud continued to gain momentum with 16 cloud deals in the fiscal fourth quarter among new and existing clients.
In September, Guidewire announced that the Canadian property and casualty insurer (P&C) - Definity Financial Corporation - has moved its core insurance platform to Guidewire Cloud. Definity will leverage Guidewire Cloud, which runs on Amazon Web Services cloud technology, to improve security, mitigate planned and unplanned outages and manage rising cyber security risks.
Prior to that, Guidewire was selected by insurance company Topdanmark to simplify IT operations and adapt to changing market demands.
Apart from that, Guidewire cloud has been adopted by Golden Bear Insurance, Aioi Nissay Dowa Insurance, Franklin Mutual Insurance, Cornerstone National Insurance Company and Tradition Mutual Insurance Company to automate and simplify business processes.
Guidewire provides software solutions for P&C insurers that aid in reducing risk through increased productivity, bringing speed to market, digital engagement and simplifying IT infrastructure.
For the first quarter, the Zacks Consensus Estimate for revenues stands at $190.6 million, up 14.9% year over year. Also, the consensus mark for earnings is pegged at (35) cents per share, down 66.7% year over year.
The company expects revenue for the first quarter of fiscal 2023 to be in the range of $190-$195 million. ARR is expected to be between $667 million and $670 million.
Presently, Guidewire carries a Zacks Rank #3 (Hold). Shares of the company have lost 54.1% compared with the industry’s decline of 38.1% in the past year.
The Zacks Consensus Estimate for Synopsys 2022 earnings is pegged at $8.85 per share, up 4.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 16.2%.
Synopsys earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 3%. Shares of SNPS have decreased 6.8% in the past year.
The Zacks Consensus Estimate for PSTG 2022 earnings is pegged at $1.18 per share, rising 24.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have increased 3.7% in the past year.
The Zacks Consensus Estimate for Aspen Technology’s fiscal 2023 earnings is pegged at $6.77 per share, increasing 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.2%.
Aspen Technology’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 6.2%. Shares of AZPN have increased 47% in the past year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Guidewire's (GWRE) Insurance Cloud Platform Used by Ornikar
Guidewire Software (GWRE - Free Report) has announced that its Guidewire InsuranceSuite on Guidewire Cloud - has been selected by a France-based car insurance company - Ornikar.
Ornikar has become a leader in road safety education through its innovative online driving school model. The company plans to leverage Guidewire’s platform to design and provide new products to further enhance its motor insurance offering.
Per a report from IMARC, the global motor insurance market size reached $737.43 billion in 2021 and is expected to reach $988.79 billion by 2027, registering a CAGR of 4.7% from 2022 to 2027. The industry is expected to benefit from the significant rise in private cars and commercial vehicles and the government mandate to buy motor insurance, added the report.
Guidewire Software, Inc. Price and Consensus
Guidewire Software, Inc. price-consensus-chart | Guidewire Software, Inc. Quote
Ornikar will also gain from Guidewire's cloud platform's most recent updates and top-tier features. Additionally, the company hopes that integrating Guidewire’s cloud will result in improved scalability and integration with other SaaS applications as it expands its business worldwide.
Guidewire continues to develop its cloud platform with new features such as digital frameworks, automation, tooling and other cloud services. Guidewire Cloud continued to gain momentum with 16 cloud deals in the fiscal fourth quarter among new and existing clients.
In September, Guidewire announced that the Canadian property and casualty insurer (P&C) - Definity Financial Corporation - has moved its core insurance platform to Guidewire Cloud. Definity will leverage Guidewire Cloud, which runs on Amazon Web Services cloud technology, to improve security, mitigate planned and unplanned outages and manage rising cyber security risks.
Prior to that, Guidewire was selected by insurance company Topdanmark to simplify IT operations and adapt to changing market demands.
Apart from that, Guidewire cloud has been adopted by Golden Bear Insurance, Aioi Nissay Dowa Insurance, Franklin Mutual Insurance, Cornerstone National Insurance Company and Tradition Mutual Insurance Company to automate and simplify business processes.
Guidewire provides software solutions for P&C insurers that aid in reducing risk through increased productivity, bringing speed to market, digital engagement and simplifying IT infrastructure.
For the first quarter, the Zacks Consensus Estimate for revenues stands at $190.6 million, up 14.9% year over year. Also, the consensus mark for earnings is pegged at (35) cents per share, down 66.7% year over year.
The company expects revenue for the first quarter of fiscal 2023 to be in the range of $190-$195 million. ARR is expected to be between $667 million and $670 million.
Presently, Guidewire carries a Zacks Rank #3 (Hold). Shares of the company have lost 54.1% compared with the industry’s decline of 38.1% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Synopsys (SNPS - Free Report) , Pure Storage (PSTG - Free Report) and Aspen Technology (AZPN - Free Report) . Pure Storage currently sports a Zacks Rank #1 (Strong Buy), whereas Synopsys and Aspen Technology presently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
The Zacks Consensus Estimate for Synopsys 2022 earnings is pegged at $8.85 per share, up 4.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 16.2%.
Synopsys earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 3%. Shares of SNPS have decreased 6.8% in the past year.
The Zacks Consensus Estimate for PSTG 2022 earnings is pegged at $1.18 per share, rising 24.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have increased 3.7% in the past year.
The Zacks Consensus Estimate for Aspen Technology’s fiscal 2023 earnings is pegged at $6.77 per share, increasing 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.2%.
Aspen Technology’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 6.2%. Shares of AZPN have increased 47% in the past year.