Why DocuSign Shares Continue To Slide Today

DocuSign Inc DOCU shares are sliding Friday morning after several analysts downgraded or lowered price targets on the stock. DocuSign shares were falling after hours Thursday following the company's financial results and weak guidance. 

DocuSign said it expects first-quarter revenue to be between $579 million and $583 million versus the $594 million estimate. The company expects full fiscal year 2023 revenue to be between $2.47 billion and $2.482 billion versus the $2.61 billion estimate.

Analyst Assessment: 

• Citigroup analyst Tyler Radke maintained DocuSign with a Buy rating and lowered the price target from $137 to $114.
• Oppenheimer analyst Brian Schwartz downgraded DocuSign from Outperform to Perform.
• Wedbush analyst Daniel Ives maintained DocuSign with a Neutral rating and lowered the price target from $200 to $80.
• UBS analyst Karl Keirstead maintained DocuSign with a Neutral rating and lowered the price target from $110 to $85.
• RBC Capital analyst Rishi Jaluria maintained DocuSign with an Outperform rating and lowered the price target from $220 to $95.
• JMP Securities analyst Patrick Walravens maintained DocuSign with a Market Outperform rating and lowered the price target from $307 to $180.
• Baird analyst William Power downgraded DocuSign from an Outperform rating to a Neutral rating and lowered the price target from $140 to $82.
• Wells Fargo analyst Michael Turrin maintained DocuSign with an Equal-Weight rating and lowered the price target from $180 to $80.
• Wolfe Research analyst Alex Zukin maintained DocuSign with a Peer Perform rating and lowered the price target from $100 to $75.

See Also: Why DocuSign Shares Are Falling After Hours

Photo: courtesy of DocuSign.