Citi sees ‘mixed set-up’ for DocuSign

Citi sees a “mixed set-up” for DocuSign, stating that the firm spoke with two partners whose companies did not meet expectations for Q4 and are estimating roughly flat growth for FY25. Though channel checks were “more cautious” and growth inputs “remain soft,” the firm believes near-term numbers “look achievable, with more upside potential on margins post a third restructuring,” added the analyst, who keeps a Buy rating and $90 price target on DocuSign shares.