NEW YORK (TheStreet) -- Guidewire Software (GWRE) shares are up 2.78% in after-hours trading on Tuesday after the system software provider for the property and casualty insurance industry reported its first quarter earnings results after the closing bell today.
The company reported earnings of 8 cents per diluted share on an adjusted basis that was ahead of analysts' expectations for the period by 5 cents per share.
Guidewire reported revenue of $79.7 million during the period, worse than the $118 million it reported last year but ahead of the $75.8 million analysts were expecting this quarter.
The company also issued its current quarter financial guidance, forecasting earnings between 9 cents and 12 cents per diluted share on revenue between $81.6 million and $88.6 million. Analysts are expecting the company to earn 8 cents per diluted share on revenue of $87.6 million.
TheStreet Ratings team rates GUIDEWIRE SOFTWARE INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate GUIDEWIRE SOFTWARE INC (GWRE) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: GWRE Ratings Report