DocuSign price target lowered to $50 from $70 at Baird

Baird analyst William Power lowered the firm’s price target on DocuSign to $50 from $70 and keeps a Neutral rating on the shares. The analyst previewed Q3 results and expects solid results relative to expectations, though guidance will be the primary focus. He said while revenue and billings could face greater pressure, the solid margins and free cash flow could help offset some concerns.