Today I cover Duck Creek Technologies $DCT stock, which has an IPO launch of August 14, 2020. Duck Creek IPO. Should You Buy Duck Creek Stock? DCT is a SaaS insurtech company in a growing market! Is DCT a growth stock to buy now?
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Boston, Massachusetts-based Duck Creek was founded to develop an online platform that provides P&C insurance carriers with software to improve their operational efficiencies for policy administration, claims management and billing functions.
Management is headed by Chief Executive Officer Mr. Michael Jackowski, who has been with the firm since August 2016 and was previously a managing partner at Accenture and held several positions at insurance carrier The Allstate Companies (ALL).
Duck Creek Technologies Inc. DCT, disclosed Wednesday that the expected range for the pricing of its initial public offering increased to between $23 and $25 from $19 and $21. With the Boston-based provider of software-as-a-service (SaaS) for the property and casualty insurance industry offering 15 million shares in the IPO, the amount the company could raise has increased to up to $375 million from $315 million, and its expected market value has increased to $3.21 billion from $2.69 billion. Goldman Sachs, J.P. Morgan and BofA Securities are among the lead underwriters. For the nine months ended May 31, 2020, the company recorded a net loss of $8.5 million on total revenue of $153.35 million, after a loss of $14.1 million on revenue of $123.35 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF IPO, 1.25% has rallied 28.3% over the past three months while the S&P 500 SPX, 1.59% has gained 16.2%.
I have been investing in the stock market for over 20 years, but I am not a financial advisor or a legal professional, and I am not providing financial or legal advice. The information provided is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs. FIRED Up Wealth and Eric Cuka do not make any guarantee or other promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. Past performance is no guarantee of future results.
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