Popular Stories

DocuSign Stock Pops As Earnings Soar, Revenue Outlook Tops Expectations

DocuSign stock popped in extended trading Thursday as April-quarter financial results blew past Wall Street targets while its revenue forecast came in above views.




X



First-quarter earnings for San Francisco-based DocuSign came in at 44 cents per adjusted share. Revenue rose 58% to $469.1 million, including acquisitions, the company said.

A year earlier, DocuSign (DOCU) earned 12 cents a share on sales of $297 million.

DocuSign stock analysts expected the company to report earnings of 28 cents on sales of $437.6 million. Billings jumped 54% to $527.4 million, topping estimates for 36% growth.

DocuSign stock surged 6% to 206.45 in after-hours trading on the stock market today. The company’s software automates the filing of contracts over the internet and certifies electronic signatures.

DocuSign Stock: Revenue Outlook Above Views

For the current quarter ending in July, DocuSign forecast revenue of $482 million at the midpoint of its outlook. Analysts had projected revenue of $474.2 million.

One question for DocuSign is whether customer growth will slow as the coronavirus pandemic eases and business travel normalizes.

Heading into the DocuSign earnings report, the software stock owned a Relative Strength Rating of only 14 out of a best possible 99, according to IBD Stock Checkup.

DocuSign stock needs to form a new base to become actionable.

Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

How This IBD Tool Simplifies The Search For Top Stocks

Find Compelling Growth Stocks With IBD’s Stock Of The Day

Get A Free Trial Of IBD Leaderboard

Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists

View Article Origin Here

Related Articles

Back to top button