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Needham Thinks Duck Creek Technologies’ Stock is Going to Recover

Needham analyst Mayank Tandon reiterated a Buy rating on Duck Creek Technologies (DCTResearch Report) today and set a price target of $27.00. The company’s shares closed last Thursday at $22.12, close to its 52-week low of $18.60.

According to TipRanks.com, Tandon is a 5-star analyst with an average return of 17.1% and a 54.4% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Grid Dynamics Holdings, and Sapiens International.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Duck Creek Technologies with a $33.00 average price target, representing a 46.3% upside. In a report issued on March 22, D.A. Davidson also maintained a Buy rating on the stock with a $38.00 price target.

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The company has a one-year high of $50.90 and a one-year low of $18.60. Currently, Duck Creek Technologies has an average volume of 731.6K.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DCT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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