Commenting on The Wall Street Journal’s report that DocuSign (DOCU) is working with advisers to explore a sale, William Blair analyst Jake Roberge says that based on comps for previous transaction for profitable software companies, at take-out price of $72 to $85 per share could be implied based on the firm’s 2024 revenue estimates. The firm would see limited antitrust concerns if a strategic acquirer were to “enter the conversation” given that Adobe (ADBE), Dropbox (DBX) and Box (BOX) all compete with DocuSign, added the analyst, who keeps a Market Perform rating on DocuSign shares.
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