DocuSign price target lowered to $60 from $65 at Wells Fargo

Wells Fargo analyst Michael Turrin lowered the firm’s price target on DocuSign to $60 from $65 and keeps an Equal Weight rating on the shares. DocuSign’s Q4 results were relatively clean, and while the preliminary outlook provided last quarter was mostly maintained, a newly announced CFO transition following a series of management changes and +2% FY24 billings guidance suggest challenges are still ahead, the analyst tells investors in a research note.