DocuSign Inc DOCU reported better-than-expected fourth-quarter financial results on Thursday.
DocuSign’s fourth-quarter revenue increased 8% year-over-year to $712.4 million, which beat the consensus estimate of $699.18 million, according to Benzinga Pro. The agreement cloud company reported quarterly earnings of 76 cents per share, which beat analyst estimates of 64 cents per share.
“DocuSign ended Fiscal 2024 with momentum in product innovation, customer growth, and financial performance, including more than doubling free cash flow year-over-year,” said Allan Thygesen, CEO of DocuSign. “The agreement management opportunity is massive, and we’re excited to deliver category-defining innovation to our 1.5 million customers in Fiscal 2025 and beyond.”
DocuSign sees first-quarter revenue of $704 million to $708 million versus estimates of $700.06 million. The company expects fiscal year 2025 revenue between $2.915 billion and $2.927 billion versus estimates of $2.9 billion.
DocuSign shares gained 2.1% to close at $53.56 on Thursday.
These analysts made changes to their price targets on DocuSign after the company reported quarterly results.
- Evercore ISI Group raised the price target on DocuSign from $55 to $60. Evercore ISI Group analyst Kirk Materne maintained an In-Line rating.
- B of A Securities boosted the price target on DocuSign from $60 to $72. B of A Securities analyst Brad Sills maintained a Neutral rating.
- Wells Fargo raised the price target on DocuSign from $45 to $48. Wells Fargo analyst Michael Turrin maintained an Underweight rating.
- Piper Sandler raised the price target on DocuSign from $55 to $65. Piper Sandler analyst Rob Owens maintained a Neutral rating.
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