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's Aroon Indicator triggered a bullish signal on July 25, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 269 similar instances where the Aroon Indicator showed a similar pattern. In of the 269 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of cloud-based electronic signature solutions
Industry PackagedSoftware