DCT - Duck Creek Technologies Stock Fell 29% Last Month Opening a Wonderful Buying Window
Shares of Duck Creek Technologies (NASDAQ: DCT) fell 28.8% in October 2021, according to data from S&P Global Market Intelligence . The maker of software-as-a-service (SaaS) used by property and casualty insurance companies reported strong results for the fourth quarter of 2021. The report still triggered a massive price drop as market makers focused on Duck Creek's modest guidance targets instead.
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In the fourth quarter, Duck Creek's revenues rose 21% year over year to $70.9 million. Adjusted earnings stopped at $0.02 per share, based on $2.6 million in non-GAAP net income. This was in line with the year-ago reading. Your average analyst would have settled for fourth-quarter earnings of $0.01 per share on top-line sales near $69.1 million, so Duck Creek exceeded analyst targets across the board.
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Duck Creek Technologies Stock Fell 29% Last Month, Opening a Wonderful Buying Window