DocuSign price target lowered by $5 at JPMorgan, here’s why

JPMorgan lowered the firm’s price target on DocuSign to $45 from $50 and keeps an Underweight rating on the shares. The company reported fiscal Q3 results that cleared a very conservative bar on revenue and billings, though with a softer magnitude of billings beat and ongoing deceleration in some key metrics, the analyst tells investors in a research note. The firm says macro headwinds remain for DocuSign.