DocuSign price target raised to $60 from $55 at Evercore ISI

Evercore ISI analyst Kirk Materne raised the firm’s price target on DocuSign to $60 from $55 and keeps an In Line rating on the shares after the company delivered “solid” Q4 results. While the business appears to be stabilizing and execution was solid in Q4, the firm believes that shares could remain in a bit of a range until DocuSign starts to put together a few quarters of solid billings and net recurring revenue starts to inflect, the analyst tells investors.