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1 Green Flag for DocuSign in 2023, and 1 Red Flag

TheMotleyFool

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1 Green Flag for DocuSign in 2023, and 1 Red Flag: https://g.foolcdn.com/editorial/images/709197/person-signing-tablet.jpg

DocuSign (NASDAQ: DOCU) became a hot growth stock during the pandemic as stay-at-home measures generated robust demand for its e-signature services. The health crisis also prompted more companies to go paperless and accelerate their digital transformation efforts.

DocuSign's revenue rose 39% in fiscal 2020 (which ended in January of the calendar year), 49% in fiscal 2021, and 45% to $2.1 billion in fiscal 2022. Those growth rates impressed the bulls, and its stock soared to a record high of $310.05 last September -- more than four times higher than its opening price of $74.31 on the first trading day of 2020.

Image source: Getty Images.

Source Fool.com

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