DocuSign Stock Crashes After Earnings: Should You Buy Now?
DocuSign (NASDAQ: DOCU) reported the first-quarter fiscal year 2023 earnings on June 9. The international e-signature solutions provider disappointed investors with the results, and its stock has been down 36% since the announcement.
Given a stock price fall of that magnitude, bargain-shopping investors are asking if it's an excellent time to buy. Let's look at what went down during DocuSign's first quarter, weigh it against its longer-term prospects, and look at its valuation to determine if investors should buy now.
In its first quarter, which ended on April 30, DocuSign reported revenue of $589 million. That was a 25% increase from the same quarter in the year prior. The growth rate was a considerable slowdown from the 57.9% revenue growth rate it reported in the year-ago quarter. Keep in mind, however, world economies were under stringent restrictions during the same time the previous year as vaccinations against COVID-19 were much lower.
Source Fool.com
