5 Stocks in Focus After Releasing Their Financial Results

In this article, we discuss the 5 stocks in focus after releasing their financial results. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks in Focus After Releasing Their Financial Results.

5. Duck Creek Technologies, Inc. (NASDAQ:DCT)

Number of Hedge Fund Holders: 17

Shares of Duck Creek Technologies, Inc. (NASDAQ:DCT) jumped more than 11 percent in the pre-market trading session on Friday, January 7, 2022, after announcing better-than-expected financial results for its fiscal first quarter.

Duck Creek Technologies, Inc. (NASDAQ:DCT) reported adjusted earnings of 4 cents per share, easily surpassing the consensus forecast of 1 cent per share. Revenue for the quarter jumped 25 percent on a year-over-year basis to $73.4 million, ahead of analysts’ average estimate of $69 million.

If we break down the total revenue by segments, subscription revenue rose 28 percent to $35.7 million, while professional services revenue jumped 26 percent to $29.5 million. In comparison, license revenue climbed 42 percent to $1.9 million, while maintenance and support revenue inched up just 1 percent to $6.3 million.

Looking forward, Duck Creek Technologies, Inc. (NASDAQ:DCT) expects revenue in the range of $71.5 – $73.5 million for its fiscal second quarter and between $298 – $304 million for its FY 2022.

Speaking on the results, CEO of Duck Creek Technologies, Inc. (NASDAQ:DCT), Michael Jackowski, said:

“Duck Creek’s first quarter results were a good start to fiscal 2022, with 40% SaaS ARR growth and profitability that was well ahead of expectations.  We continue to see strong demand activity amongst new and existing customers that are making meaningful investments in their core systems to drive better, more profitable performance across their businesses.”