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Why Duck Creek Technologies Stock Just Crashed 22%

·2 min read
Why Duck Creek Technologies Stock Just Crashed 22%
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Shares of insurance industry software-as-a-service provider Duck Creek Technologies (NASDAQ: DCT) collapsed in Friday trading, falling 21.7% through 1 p.m. EDT after reporting what -- at least at first glance -- appeared to be a fine fourth-quarter 2021 earnings report last night. Expected to earn $0.02 per share, pro forma, on sales of $69.1 million, Duck Creek turned in a $0.02 per share profit on sales of $70.8 million -- not a huge earnings beat, but a beat nonetheless. Recurring revenue at the software provider increased 41%, and subscription revenue grew 35%.