Docusign Inc. (DOCU) PT Lowered to $86 at Citi

Citi analyst Tyler Radke lowered the price target on Docusign Inc. (NASDAQ: DOCU) to $86.00 (from $93.00) while maintaining a Buy rating.

The analyst comments "We see a relatively balanced set-up for DOCU as industry checks suggest partners met 1Q targets, while web traffic was slightly better. While near-term guidance looks achievable, upside to 2H acceleration could be tough amidst more cautious partner commentary on 2H growth and macro choppiness. Our FY25 op margin is ~100 bps above the Street as we believe there continues to be opportunity on margins even post RIF as DOCU leans into PLG motions and drives increased automation. We slightly moderate estimates but remain at the high end of guidance and our TP moves to $86 on updated regression. We stay Buy/High Risk rated given a broad market opportunity, potential for margin upside, and revamped PLG motion."

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