Duck Creek Technologies (NASDAQ:DCT) issued its earnings results on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03, MarketWatch Earnings reports. The firm had revenue of $58.90 million for the quarter, compared to analysts’ expectations of $55.80 million. The company’s quarterly revenue was up 26.4% on a year-over-year basis.
Shares of NASDAQ:DCT traded up $1.54 during trading on Friday, hitting $43.64. 31,387 shares of the stock were exchanged, compared to its average volume of 410,400. Duck Creek Technologies has a 1-year low of $35.10 and a 1-year high of $48.00. The company has a market capitalization of $5.71 billion and a price-to-earnings ratio of -382.73. The company’s fifty day simple moving average is $42.97 and its 200-day simple moving average is $42.54.
A number of analysts have recently issued reports on DCT shares. Raymond James boosted their target price on Duck Creek Technologies from $44.00 to $49.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. Barclays boosted their target price on Duck Creek Technologies from $43.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 21st. Needham & Company LLC boosted their target price on Duck Creek Technologies from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Royal Bank of Canada boosted their target price on Duck Creek Technologies from $45.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. Finally, Zacks Investment Research upgraded Duck Creek Technologies from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Wednesday, November 11th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Duck Creek Technologies currently has an average rating of “Buy” and an average target price of $46.50.
About Duck Creek Technologies
Duck Creek Technologies, Inc provides software-as-a-service core systems to the property and casualty insurance industry in North America. It offers Duck Creek Policy, a full lifecycle solution for the development of products and quoting, binding, and servicing of policies across various channels from agents and brokers to end-users; Duck Creek Billing that provides payment and invoicing capabilities, such as billing and collections, commission processing, disbursement management, and general ledger capabilities for insurance lines and bill types; and Duck Creek Claims that supports the entire claims lifecycle from first notice of loss through investigation, payments, negotiations, reporting, and closure.
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