Citigroup Maintains Buy Rating for DocuSign: Here's What You Need To Know

Citigroup has decided to maintain its Buy rating of DocuSign DOCU and raise its price target from $59.00 to $72.00.

Shares of DocuSign are trading up 6.65% over the last 24 hours, at $52.43 per share.

A move to $72.00 would account for a 37.33% increase from the current share price.

About DocuSign

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.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.