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RBC Capital Thinks DocuSign’s Stock is Going to Recover

RBC Capital analyst Rishi Jaluria maintained a Buy rating on DocuSign (DOCUResearch Report) on July 18 and set a price target of $80.00. The company’s shares closed last Wednesday at $67.66, close to its 52-week low of $55.86.

According to TipRanks.com, Jaluria is a 2-star analyst with an average return of 0.6% and a 42.8% success rate. Jaluria covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, Zoom Video Communications, and Duck Creek Technologies.

The word on The Street in general, suggests a Hold analyst consensus rating for DocuSign with a $74.85 average price target.

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Based on DocuSign’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $589 million and GAAP net loss of $27.37 million. In comparison, last year the company earned revenue of $469 million and had a GAAP net loss of $8.35 million.

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Founded in 2003 and headquarterd in California, DocuSign, Inc. is a cloud-based electronic signature solutions name that helps companies and individuals to manage electronic agreements. The company automates manual, paper-based processes, allowing users to manage all aspects of documented business transactions including identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.

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