DocuSign price target lowered to $45 from $55 at Wells Fargo

Wells Fargo analyst Michael Turrin lowered the firm’s price target on DocuSign to $45 from $55 and keeps an Underweight rating on the shares following a report from Reuters that said talks for a potential acquisition have stalled. The firm continues to believe that although DocuSign may have margin potential, any deal presents elevated risk of churn and faster comp pressure, making a takeover challenging.