Why DocuSign Shares Are Moving Higher After Hours

DocuSign Inc DOCU shares are trading higher in Monday's after-hours session in sympathy with Zoom Video Communications Inc ZM after the company reported better-than-expected financial results and raised guidance.

Zoom Video is part of a basket of stocks tied to the stay-at-home trade, which became popular in the wake of the COVID-19 pandemic. DocuSign is considered one of the pandemic beneficiaries. Both stocks are trading significantly below their pandemic highs. 

• ZM Revenue: $1.074 billion beat estimate of $1.07 billion.
• ZM EPS: $1.03 beat estimate of $0.87.

Zoom Video said it expects second-quarter revenue to be between $1.115 billion and $1.12 billion versus the estimate of $1.11 billion. The company expects second-quarter adjusted earnings to be between 90 and 92 cents per share versus the estimate of 88 cents per share.

Zoom Video guided for $4.53 billion to $4.55 billion in full-year revenue versus the estimate of $4.55 billion. The company expects full-year adjusted earnings to be between $3.70 and $3.77 per share versus the estimate of $3.53 per share.

Related Link: Why Zoom Video Shares Are Surging After Hours

DocuSign operates a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from almost any device. 

DOCU 52-Week Range: $64.84 - $314.76

The stock was up 3.05% in after-hours at $80.68 at press time.

Photo: courtesy of DocuSign.