Guidewire Software, Inc. (NYSE:GWRE) reported better-than-expected third-quarter financial results on Tuesday.

Guidewire Software reported quarterly earnings of 88 cents per share which beat the analyst consensus estimate of 47 cents per share. The company reported quarterly sales of $293.51 million which beat the analyst consensus estimate of $286.39 million.

“We delivered exceptional third-quarter results, highlighted by record Q3 sales activity and 17 cloud deals,” said Mike Rosenbaum, chief executive officer, Guidewire. “With Guidewire established as the clear worldwide leader in P&C core systems, we’re increasing our market engagement activity, hosting our largest ever industry events in Paris, Tokyo, and Sydney, and our second annual Developer Summit in Bangalore, where we activated the industry’s largest developer ecosystem.”

Guidewire Software shares jumped 19.1% to $259.83 on Wednesday.

These analysts made changes to their price targets on Guidewire Software following earnings announcement.

• JMP Securities analyst Aaron Kimson maintained Guidewire Software with a Market Outperform and raised the price target from $250 to $281.
• Wells Fargo analyst Michael Turrin maintained the stock with an Overweight rating and raised the price target from $220 to $265.
• B of A Securities analyst Brad Sills maintained Guidewire Software with an Underperform rating and raised the price target from $135 to $160.
• RBC Capital analyst Rishi Jaluria maintained the stock with an Outperform rating and raised the price target from $230 to $290.
• Oppenheimer analyst Ken Wong maintained Guidewire with an Outperform rating and raised the price target from $230 to $275.
• JP Morgan analyst Alexei Gogolev maintained the stock with an Overweight rating and raised the price target from $231 to $271.
• Raymond James analyst Alexander Sklar maintained Guidewire Software with an Outperform rating and raised the price target from $225 to $255.

Considering buying GWRE stock? Here’s what analysts think:

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