Duck Creek Technologies Inc Down 22.16% To $14.37 After Earnings Beat

Duck Creek Technologies Inc (DCT) said after close Wednesday that it earned $0.01 per share in quarter three 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $72.4 million, beating estimates by $214 thousand.

In the same quarter a year ago, the company earned $0.03 per share on revenue of $67.9 million.

The stock is down 22.16% to $14.37 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 48. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Duck Creek Technologies Inc is a technology company. The company is one of the leading SaaS provider of core systems for the P&C insurance industry. The product portfolio includes distribution management, reinsurance management, digital management, and other services. Geographically, it derives a majority of revenue from the United States.