11/10/2023 0 Comments Doc u sign stock![]() The death of paper?īut although the pace and urgency of DocuSign’s customer demand may well be slowing, the firm remains optimistic. ![]() “While we had expected an eventual step down from the peak levels of growth achieved during the height of the pandemic, the environment shifted more quickly than we anticipated,” he added. “After six quarters of accelerated growth, we saw customers return to more normalised buying patterns,” said DocuSign’s CEO Dan Springer during the earnings call. However, investors reacted nervously to revised Q4 revenue guidance of $557-$563m, which would represent a deceleration in DocuSign’s rate of growth. ![]() This was overwhelmingly driven by subscription revenues of $528.6m, a 44% year-on-year increase.Įarnings also exceeded analyst expectations, with DocuSign reporting earnings per share (EPS) of $0.58, beating DOCU earnings estimates of $0.46 per share. Revenue hit $545.5m, representing 42% growth year over year. Recent resultsĪlthough December’s Q3 results release precipitated a significant share price drop, the news was broadly positive. The DocuSign share price currently (15 February) sits at around $122. With an RSI value below 30 signalling that an asset is oversold and undervalued, this represented a sign that the DocuSign share price was due an upward correction.Īccording to TradingView, the RSI for DOCU is currently neutral at 43.84, suggesting the price is no longer expected to pull upwards. In terms of technical analysis for DocuSign stock, this period saw the relative strength index (RSI) plummet to a low of 8.26. The share price dropped from around $233 to $139 by day’s end – a dip of over 40%. Third-quarter results announced on 2 December beat analyst expectations, but investors were again concerned by guidance indicating decelerating revenue growth. Between 25 October and 29 November, the share price dropped from around $278 to $136, a fall of over 50%. November 2021 saw the share price plummet, as investors lost confidence in so-called stay-at-home stocks. The DOCU share price went on to hit a record high of $310.05 in September 2021. The DocuSign share price recovered from its springtime lull, growing from around $188 on to $307 by July 2021 – an increase of over 63%. Yet these fears appeared premature, as June’s results release reported “new and existing customers adopting and expanding at record rates”, and 58% year-on-year revenue growth. This brought fresh uncertainty for DocuSign investors, and in March 2021, the share price faltered after earnings report guidance moderated expectations for future growth. The start of 2021 saw vaccines rolled out and hopes for the end of the pandemic rise. The DocuSign share price continued to grow throughout 2020, and it ended the year trading at around $240. Even before the pandemic hit, share price growth was strong, with 2019 seeing it almost double from around $38 to $76 over the course of the year.Ģ020 was a bumper year for the DocuSign share price, and it grew by over 160% between March 2020 and June 2020 as the start of the pandemic saw demand for eSignature services soar. But with the disruption of the pandemic beginning to recede, will growth grind to a halt? Read on to see what lies ahead for the DocuSign stock forecast.ĭocuSign made its Nasdaq debut in 2018, with stock coming to market at $29 per share. The firm now boasts over a billion users worldwide and 1.11 million paying customers. In 2020, the business grew by almost 50%, and DocuSign CEO Dan Springer described its technology as “a pillar of the ‘anywhere economy’ that lets people increasingly do anything in life and work from anywhere”. Since DocuSign’s (DOCU) inception in 2003, it has pioneered the use of eSignatures, removing the need for physical paper contracts.Īs the pandemic shuttered businesses, DocuSign’s eSignature service saw demand increase at breakneck speed. DocuSign (DOCU) stock forecast: Running out of steam? – Photo: Shutterstock
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