DocuSign Stock: Buy, Sell, or Hold in 2023?
If you own DocuSign (NASDAQ: DOCU) shares, like myself, you've had a rough 2021 and 2022. Shares are off 85% from their all-time high and down 70% this year alone. To make matters worse, the stock is down around 40% from February 2020, before the pandemic started.
But a solid earnings report was announced on Dec. 8, and the stock shot up more than 10% the next day. That's still not nearly enough to offset the losses over the past two years. So is this just a case of the market taking pity on a company? Or is this the beginning of a turnaround? Let's find out.
DocuSign's product allows clients or businesses to sign binding contracts digitally, which was immensely popular during the pandemic when face-to-face meetings weren't possible. But the convenience of the solution attracted many customers long-term. Even after the massive boost that DocuSign experienced during the pandemic, it is growing its customer count. In FY 2023's third quarter (ending Oct. 31), DocuSign's customer count rose 19% year over year (YOY).
Source Fool.com
