DocuSign shares jump after upbeat forecast
DOCU•Stock performance
DOCU shares are down about 0.7% YTD, underperforming the Nasdaq Composite Index's .IXIC roughly 14% gain.
Forecast and quarterly results
The co expects full-yr rev between $3.499 bln and $3.507 bln.
For Q2, the co's rev grew to $875.7 mln, beating analysts' avg estimate of $867.4 mln, according to LSEG data.
On an adj basis, the co posted EPS for the qtr of $1.16, vs consensus estimate of $1.09.
Shares rise on raised outlook and better-than-expected results
Shares of DocuSign DOCU.O are up 4.2% and hit their highest level since Jan on Fri after the co raised its full-yr rev forecast and posted better-than-expected Q2 results.
Several brokerages including Wells Fargo raised their PTs on DOCU following the report, which was released late Thurs.
The median 12-mo PT on the stock is at $70; the stock was last at $68.76.
The e-signature firm is benefitting from growing adoption of its AI-powered contract management tools. It has been trying to regain momentum after a period of slowing growth following the pandemic-era boom.
