Why DocuSign Shares Are Rising

DocuSign DOCU shares are trading higher by 6.2% at $143.51, rebounding after the company sold off approximately 40% during Friday's session.

DocuSign shares were trading sharply lower Friday after the company issued fourth-quarter earnings and FY22 revenue guidance below estimates.

DocuSign reported quarterly earnings of 58 cents per share which beat the analyst consensus estimate of 46 cents per share. The company also reported quarterly sales of $545.46 million which beat the analyst consensus estimate of $530.63 million by 2.8%.

See Also: Why BioNTech Shares Are Falling

DocuSign offers the Agreement Cloud, a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device. The company was founded in 2003 and completed its IPO in May 2018.

DocuSign has a 52-week high of $314.76 and a 52-week low of $131.51.