UPDATE: Wolfe Research Starts Docusign Inc. (DOCU) at Outperform

April 22, 2021 4:24 PM EDT
Get Alerts DOCU Hot Sheet
Price: $184.42 -1.42%

Rating Summary:
    18 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 7 | New: 59
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(Updated - April 22, 2021 4:35 PM EDT)

Wolfe Research analyst Alex Zukin initiates coverage on Docusign Inc. (NASDAQ: DOCU) with a Outperform rating and a price target of $275.00.

The analyst comments "We see bookings outperformance combining with conservative consensus revenue growth
expectations (+35% Y/Y vs. Wolfe upside 48% in FY22E) creating a favorable setup for stock outperformance. Furthermore, with an upside scenario pointing to the potential for durable 30%+ growth through FY24/CY23, predicated on potentially modest gross bookings growth of 20%-30% (vs. ~100% in FY21), we believe the company is still undervalued today."

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 $219.36 yesterday.

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