Docusign (DOCU) Reiterated at Market Outperform by Citizens: 'A Strong Brand'

Citizens analyst Patrick Walravens reiterated a Market Outperform rating and $124.00 price target on Docusign Inc. (NASDAQ: DOCU).

The analyst commented, "we view Docusign as an excellent opportunity for capital appreciation for several reasons, including: 1) it has the dominant e-signature franchise, with an incredible 1.7M customers, a strong brand, and very high customer satisfaction; 2) the company addresses a large $50B TAM, with $25B from e-signature and $25B from contract lifecycle management; 3) the IAM product cycle is a compelling long-term opportunity and is on track to represent a double-digit percentage of Docusign's subscription book of business next quarter; 4) Docusign has an impressive and rapidly growing data moat with "approximately 150 million opted-in customer agreements ingested into Navigator," and by training IAM with consented, private data it realizes a 15 point improvement in model recall and precision compared to its models trained on public data; and 5) we like the thoughtful leadership of Mr. Thygesen, COO Anwar Akram, CFO Blake Grayson, CRO Paula Hansen, new Board Chair James Beer and Head of Investor Relations Matt Sonefeldt."

For an analyst ratings summary and ratings history on Docusign Inc. click here. For more ratings news on Docusign Inc. click here.

Shares of Docusign Inc. closed at $68.31 yesterday.

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