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DocuSign (DOCU, $245.18) beats fiscal Q1 earnings expectations
E-signature company DocuSign reported its fiscal third quarter earnings that surpassed analysts’ expectations.
The company’s quarterly earnings came in at 22 cents a share, beating the Street estimate of 13 cents a share.
Revenue surged +53% year-over-year to $382.9 million, also exceeding analysts’ expectations of $361.2 million.
The earnings results were followed by upgrades from several analysts.
Citi analyst Walter Pritchard hiked his price target on DocuSign shares to $282 from $257, while maintaining his buy rating on the shares citing "higher growth for longer" potential amid the COVID-19 pandemic’s role in propelling businesses to digital signing permanently.
Needham analyst Scott Berg, who initiated coverage of DocuSign in mid-November with a buy rating and a $240 price target, lifted his one-year target to $275.
Wedbush Securities analyst Dan Ives called DocuSign’s results “stellar” .
JMP Securities analyst Patrick Walravens boosted his price target on DocuSign shares to $276 from $261, while keeping an outperform rating on the stock, citing "long-term capital appreciation" potential as well as strong potential in its international business.
DOCU in upward trend: price may ascend as a result of having broken its lower Bollinger Band on May 09, 2022
DOCU may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In 25 of 29 cases where DOCU's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are 86%.
Current price $74.49 crossed the support line at $93.33 and is trading between $93.33 support and $6.01 resistance lines. Throughout the month of 04/13/22 - 05/16/22, the price experienced a -29% Downtrend, while the week of 05/09/22 - 05/16/22 shows a +9% Uptrend.
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where DOCU's RSI Indicator exited the oversold zone, 12 of 20 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 60%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 31 of 36 cases where DOCU's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 86%.
Following a +17.11% 3-day Advance, the price is estimated to grow further. Considering data from situations where DOCU advanced for three days, in 220 of 267 cases, the price rose further within the following month. The odds of a continued upward trend are 82%.
The Momentum Indicator moved below the 0 level on April 11, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on DOCU as a result. In 46 of 62 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 74%.
The Moving Average Convergence Divergence Histogram (MACD) for DOCU turned negative on April 18, 2022. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 41 similar instances when the indicator turned negative. In 29 of the 41 cases the stock turned lower in the days that followed. This puts the odds of success at 71%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where DOCU declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 74%.
The Aroon Indicator for DOCU entered a downward trend on May 16, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 74%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.5.
The Tickeron Price Growth Rating for this company is 92 (best 1 - 100 worst), indicating slightly worse than average price growth. DOCU’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 93 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (57.471) is normal, around the industry mean (16.471). P/E Ratio (0.000) is within average values for comparable stocks, (154.393). Projected Growth (PEG Ratio) (2.186) is also within normal values, averaging (4.591). Dividend Yield (0.000) settles around the average of (0.027) among similar stocks. P/S Ratio (7.391) is also within normal values, averaging (124.500).
The Tickeron SMR rating for this company is 98 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. DOCU’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock worse than average.
Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.
The average market capitalization across the Packaged Software Industry is 6.2B. The market cap for tickers in the group ranges from 580 to 2T. MSFT holds the highest valuation in this group at 2T. The lowest valued company is NANN at 580.
The average weekly price growth across all stocks in the Packaged Software Industry was -0.92%. For the same Industry, the average monthly price growth was -15.48%, and the average quarterly price growth was -24.67%. LAAB experienced the highest price growth at 126%, while SGNI experienced the biggest fall at -97.03%.
- 5/14/22 4:23 AM: DocuSign (DOCU, $79.17) was a top weekly gainer, with a +6.17% jump
- 5/5/22 4:57 AM: DocuSign (DOCU, $88.51) was a top weekly gainer, with a +7.01% jump
- 3/29/22 5:17 AM: DocuSign (DOCU, $104.67) was a top weekly gainer, with a +9.19% jump
The average weekly volume growth across all stocks in the Packaged Software Industry was 19.51%. For the same stocks of the Industry, the average monthly volume growth was 113.57% and the average quarterly volume growth was 41.15%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Negative Outlook today, backed by the MA200MA50 Indicator. Tickeron has a negative outlook on this group and predicts a further decline by more than 4.00% within the next month with a likelihood of 56%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.11.
137 stocks in the group of tickers exhibit a similar negative trend based on the Aroon indicator with an average likelihood of 76%.
The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Adobe (NASDAQ:ADBE), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Intuit (NASDAQ:INTU), Uber Technologies (NYSE:UBER), Atlassian Corp (NASDAQ:TEAM), Autodesk (NASDAQ:ADSK), CrowdStrike Holdings (NASDAQ:CRWD), Datadog (NASDAQ:DDOG).
The average market capitalization across the group is 23B. The market cap for tickers in the group ranges from 0 to 2T. MSFT holds the highest valuation in this group at 2T. The lowest valued company is WORK at 0.
- 5/14/22 4:23 AM: Microsoft (MSFT, $261.12) saw a $101.8B market cap decrease this week
- 5/6/22 5:04 AM: Microsoft (MSFT, $277.35) saw a $91.8B market cap decrease this week
- 5/3/22 8:18 AM: Microsoft (MSFT, $284.47), market cap jumped by $52.0B
The average weekly price growth across all stocks in the group was 1.23%. For the same group, the average monthly price growth was -17.29%, and the average quarterly price growth was -41.47%. KBNT experienced the highest price growth at 37.12%, while CTK experienced the biggest fall at -32.06%.
- 5/14/22 4:24 AM: SailPoint Technologies Holdings (SAIL, $60.3) was a top loser this week, declining -5.05%
- 5/14/22 4:23 AM: Lightspeed Commerce (LSPD, $21.37) was a top weekly gainer, with a +8.7% jump
- 5/14/22 4:23 AM: DocuSign (DOCU, $79.17) was a top weekly gainer, with a +6.17% jump
The average weekly volume growth across all stocks in the group was -55.59%. For the same stocks of the group, the average monthly volume growth was -6.13% and the average quarterly volume growth was -13.51%
- 5/11/22 7:39 AM: The volume for Materialise stock increased for one day, resulting in a record-breaking daily growth of 233% of the 65-Day Volume Moving Average
- 5/11/22 7:39 AM: The volume for GTY Technology Holdings stock increased for a consecutive 5 days, with an average daily gain of 335%
- 5/10/22 5:30 AM: The volume for GTY Technology Holdings stock increased for a consecutive 5 days, with an average daily gain of 375%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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