Guidewire Software saw an improvement in its IBD SmartSelect Composite Rating Tuesday, from 94 to 96.
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The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Guidewire Software is currently extended beyond a proper buy zone after clearing the 201.00 buy point in a double bottom.
One weak spot is the company's 64 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
In Q2, the company posted 11% earnings growth. Revenue growth came in at 20%, down from 27% in the previous quarter. The company's next quarterly report is expected on or around Jun. 3.
Guidewire Software holds the No. 3 rank among its peers in the Computer Software-Financial industry group. CoreCard is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
