DocuSign price target raised to $65 from $55 at Wells Fargo

Wells Fargo raised the firm’s price target on DocuSign to $65 from $55 and keeps an Equal Weight rating on the shares. The firm notes DocuSign is up 17% year-to-date with sentiment still cautious given recent obstacles and lower levels of visibility. Wells views the Q4 setup as mixed, with org changes likely to drive margin upside and management/GTM changes likely to take time to settle.