DocuSign Analysts Boost Their Forecasts After Upbeat Q1 Results

DocuSign Inc DOCU reported better-than-expected quarterly results.

DocuSign said first-quarter revenue increased 12% year-over-year to $661.39 million, which beat the consensus estimate of $641.8 million. The company reported adjusted earnings of 72 cents per share, which beat estimates of 56 cents per share.

DocuSign sees second-quarter revenue of $675 million to $679 million versus estimates of $670.37 million. The company expects full-year revenue to be between $2.713 billion and $2.725 billion versus estimates of $2.7 billion.

DocuSign shares fell 1% to trade at $57.88 on Friday.

These analysts made changes to their price targets on DocuSign following earnings announcement.

• UBS raised the price target on DocuSign from $45 to $48. UBS analyst Karl Keirstead maintained a Sell rating.
• Wedbush increased the price target on DocuSign from $60 to $67. Wedbush analyst Daniel Ives maintained a Neutral rating.