Duck Creek Technologies Inc. [NASDAQ:DCT] will report earnings after markets close on Thursday, January 7th.
DCT Earnings Forecast For The Current Quarter
Duck Creek Technologies Inc. [DCT] is expected to report earnings results for the quarter ending on Nov 2020. Consensus estimates give the company expected revenues of $55.6M and an earnings per share of -$0.01 for Nov 2020. Looking further ahead, the company is expected to report revenue of $58.73M at an EPS of -$0.02 for Feb 2021. The estimates represent 17.50% and 66.70% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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DCT Earnings Estimates For The Current Year
For the financial year, Duck Creek Technologies Inc. [NASDAQ:DCT] is expected to bring in revenue of $246.91M. The returns are nearly $35.24 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at -0.03, lower than that of FY20 by -$0.09. Estimates put this year’s earnings growth at -150.00%, 66.70% for the next. As for sales, forecasts are for an increase of 16.60% in the current fiscal year and a further 17.50% over the following year.
DCT Price Performance
On Wall Street, Duck Creek Technologies Inc. [NASDAQ:DCT] finished Tuesday’s session up 1.62% at $42.15. The stock went up to $42.34 at the same session while its lowest single day price was $40.30. In the last five days, it saw a fall of about -4.10%, Duck Creek Technologies Inc. shares dropped by almost -2.66% since the beginning of the year. However, the share price has dropped to as low as -12.19% below its one year high.
DCT Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 40.85 level, and in case of violation of this particular level, it will cause more drop to 39.56 level. On the upper level, 43.64 is still the key resistance. The stock may increase to the subsequent resistance at 42.89. The Relative Strength Index (RSI) pinned on the 14-day chart is 49.70, implying a neutral technical stance while the MACD stands at -0.80, meaning price will decrease in the next trading period. Percent R indicator moved to 66.15%, implying low price movement. Stochastic %K at 41.85% suggest holding the stock.
What is the short interest in Duck Creek Technologies Inc.?
Short interest in the Duck Creek Technologies Inc. stock has surged, increasing by 1.59 million shares to total 2.64 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 4.23 million, data from Yahoo Finance shows. The decrease of -60.23% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover moved to a short ratio while the shorted shares account for just 4.95% of the overall float for the stock.
Duck Creek Technologies Inc.’s Biggest Shareholders: Who Owns Duck Creek Technologies Inc. [DCT]?
Filings by Kayne Anderson Rudnick Investment showed that the firm now holds a total of 9,488,147 shares or roughly 7.25% of the outstanding DCT shares. This means their shares have reduced by -1,960,797 from the 9,488,147 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Temasek Holdings Pte Ltd. updated stake is worth $208,400,092. The JPMorgan Investment Management, I’s holdings currently number 1,345,192 shares at $56699842.8. According to the firm’s last 13F report, Citadel Advisors LLC shares in the company at filing stood at 1,184,666 shares, roughly $47,102,320.
What are analyst thoughts on Duck Creek Technologies Inc.?
Looking forward to the Duck Creek Technologies Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Duck Creek Technologies Inc. stock at $50.00 within the next 12 months, which represents almost 15.7 per cent growth from its previous closing price of $42.15. The highest analysts’ target for Duck Creek Technologies Inc. stock projections is $55.00 and the lowest one is $46.00. Still, 11 analysts sharing their consensus rating for DCT stock in 2021 agree that it is an Overweight.