BofA raised the firm’s price target on DocuSign to $68 from $60 and keeps a Neutral rating on the shares after Reuters reported that Bain Capital and Hellman & Friedman are competing to buy DocuSign. The firm raised its target to reflect peer multiple expansion across the mid-cap software group, but argues that a discounted PE multiple is likely given DocuSign’s lower growth profile.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on DOCU:
- M & A News: DocuSign Stock (NASDAQ:DOCU) Jumps on Buyout Rumors
- The security, infrastructure software stocks to own in 2024, according to Piper
- DocuSign price target raised to $55 from $50 at Piper Sandler
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Salesforce downgraded, Starbucks initiated: Wall Street’s top analyst calls