DocuSign price target raised to $72 from $60 at BofA

BofA analyst Brad Sills raised the firm’s price target on DocuSign to $72 from $60 and keeps a Neutral rating on the shares after the company reported “strong” Q4 results, with revenue, margin, and billings upside. Billings growth may be bottoming soon and growth initiatives have potential to drive some reacceleration, but these initiatives remain relatively unproven and the firm maintains a Neutral stance pending better visibility for accelerating growth and continued margin leverage beyond FY25.