DocuSign Inc (DOCU)

[fung_derf]

Looks like I originally bought this at $167, sold at $220
Bought at $217, sold at $297
Bought at $274, sold at $149 (ouch)
Bought at $144, sold at $150.

Slightly up overall.
This MAY be a good entry point, but I can't figure out why it tanked so badly yet.

DJ DocuSign Stock Has Had a Terrible Year. A Former Bear Says the Worst Over. -- Barrons.com
Dow Jones News11:27 AM Eastern Daylight Time Oct 12, 2022
Eric J. Savitz
This has been a rough year for DocuSign stock. The e-signature software and services company saw business soar during the pandemic, as office workers stayed home and a shift to digital-documentation soared.

But growth has moderated in recent quarters, there has been considerable turnover in DocuSign's (ticker: DOCU) sales team, and there has been a CEO change. A few weeks ago, the company announced a 9% staff reduction. All of that has weighed heavily on the stock, which is down about 70% for the year.

Wedbush analyst Dan Ives, who turned bearish on DocuSign in May, thinks most of the bad news is out -- and that the stock has probably hit bottom. On Tuesday, he lifted his rating on the stock to Neutral from Underperform, while keeping his $55 target price.

Ives writes that he thinks deal flow has "generally stabilized," and that current consensus estimates for the January 2023 fiscal year and fiscal 2024 look achievable. He thinks that risk/reward on the stock now appear balanced.

"In our opinion, the management team has gotten its arms around the business and is clearly adjusting to the new sales environment, although some growth challenges still remain heading into the rest of fiscal 2023," he writes.

The analyst also thinks DocuSign could become an acquisition target for an strategic or financial buyer if the stock continues to head lower.

Despite the rating change, DocuSign stock is down 1.9%, to $43.69, and this morning hit its lowest level in more than three years.

Write to Eric J. Savitz at [e-mail]

(END) Dow Jones Newswires

October 12, 2022 11:27 ET (15:27 GMT)


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