DokuSign Inc. (NASDAQ: DOCU) Shares tumble Friday morning after several analysts lowered or lowered their share price targets. Shares of DocuSign fell after the close of trading on Thursday after the release of the company’s financial results and a weak outlook.
DocuSign said it expects first-quarter revenue to be between $579 million and $583 million, up from an estimate of $594 million. The company expects full revenue in fiscal 2023 to be between $2.47 billion and $2.482 billion, up from an estimate of $2.61 billion.
Analytical evaluation:
- Citigroup analyst Tyler Radke left DocuSign with a Buy recommendation and cut his price target from $137 to $114.
- Oppenheimer analyst Brian Schwartz downgraded DocuSign from “excellent” to “effective”.
- Wedbush analyst Daniel Ives left DocuSign neutral and cut his price target from $200 to $80.
- UBS analyst Carl Keirsted left DocuSign neutral and cut his price target from $110 to $85.
- RBC Capital analyst Rishi Jaluria retained DocuSign at Overmarket and lowered its price target from $220 to $95.
- JMP Securities analyst Patrick Wahlravens kept DocuSign with an overweight rating and cut its price target from $307 to $180.
- Baird analyst William Power downgraded DocuSign from “Excellent” to “Neutral” and lowered its price target from $140 to $82.
- Wells Fargo analyst Michael Terrin retained DocuSign’s Equal-Weight rating and cut its price target from $180 to $80.
- Wolfe Research analyst Alex Zukin retained DocuSign’s Peer Perform rating and lowered its price target from $100 to $75.
See also: Why DocuSign stock falls after hours
Photo: courtesy of DocuSign.
Latest DOCU rankings
| date of | Firm | Action | From | TO |
|---|---|---|---|---|
| March 2022 | Wolf research | Supports | Peer-to-peer work | |
| March 2022 | Wells Fargo Co. | Supports | Equilibrium | |
| March 2022 | Baird | downgrade | surpass | Neutral |
View other analyst ratings for DOCU
View latest analyst ratings
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