BUZZ-BofA reinstates coverage of Docusign with 'underperform' rating, sees limited upside

Reuters04-01
BUZZ-BofA reinstates coverage of <a href="https://laohu8.com/S/DOCU">Docusign</a> with 'underperform' rating, sees limited upside

** BofA reinstates coverage on virtual document signing platform Docusign DOCU.O with an "underperform" rating

** Sets PT of $52, which is 10% upside to the stock's last close

** Having dominated the eSignature software market, Docusign is in a more uncertain phase of its growth trajectory, brokerage says

** Adds, with the eSignature market approaching maturity and trending towards commoditization, DOCU's revenue growth has stagnated in the high single digits for the past 10 quarters

** "While DOCU has the right pieces in place to establish itself as a dominant force in intelligent agreement management (IAM), an inflection is not immediately apparent" — BofA

** Six of 23 analysts rate stock "strong buy" or "buy", 16 "hold" and one "sell"; their median PT is $55 — data compiled by LSEG

** Including session's move, stock down 30% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment