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Benzinga

Business

Anusuya Lahiri

Why Duck Creek Share Are Plunging Today

Duck Creek DCT Nasdaq Brian Peterson

Analysts slashed their price targets on Duck Creek Technologies Inc (NASDAQ:DCT) following Q2 results. RBC Capital analyst Rishi Jaluria lowered the PT to $25 from $38 (27.6% upside) but kept an Outperform rating.

RBC cited rough Q2 earnings, below-consensus guidance, and deceleration in annual recurring revenue, leading to the stock's decline in the aftermarket. Duck Creek management discussed Q2 deals being deferred due to IT resource shortages and carrier expense concerns.

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