DocuSign price target lowered to $68 from $72 at BofA

BofA lowered the firm’s price target on DocuSign to $68 from $72 and keeps a Neutral rating on the shares after the company reported "mixed" Q4 results and gave guidance for FY24 revenue and billings below the firm’s estimates. The outlook for 2% billings growth reflects significant disruption from the move to self-service and two reductions in force, but "the steps taken are logical and could drive acceleration from what appears to be the bottom," the analyst tells investors.