Guidwire (GWRE) Offers Impressive Upside Following a New Buyback Program

Guidewire Software (NYSE:GWRE) is one of the 12 oversold software stocks to invest in.

As of February 16 closing, Guidewire Software (NYSE:GWRE) carried a highly bullish sentiment. Of the 12 analysts covering the stock, 10 assigned Buy ratings and 2 issued Hold ratings. With no Sell rating, the stock has a projected median 1-year price target of $270.10, implying an impressive upside of more than 112%.

On January 9, Guidewire Software (NYSE:GWRE) reported a successful completion of its share buyback program, which had been approved back in September 2022. Moreover, the company made a subsequent announcement that, following this completion, the board of directors issued an approval for a new buyback program, which will be effective immediately. This gives the company the authorization to repurchase up to an additional $500 million worth of its outstanding shares of common stock.

Guidewire Software (NYSE:GWRE) offers a cloud-based platform for property and casualty (P&C) insurers worldwide. Through the platform, it provides several applications, such as PolicyCenter, ClaimCenter, and BillingCenter, that facilitate core operations for P&C insurance companies. Other offerings include Guidewire Rating Management, Guidewire InsuranceNow, Guidewire Reinsurance Management, Guidewire Client Data Management, and more.

While we acknowledge the potential of GWRE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.