Is DocuSign Stock a Buy Now?
DocuSign's (NASDAQ: DOCU) stock surged 10.5% the day after the release of its fiscal 2023 second-quarter earnings report. For the period, which ended July 31, the e-signature service provider's revenue rose 22% year over year to $622.2 million, which exceeded analysts' estimates by $19.9 million, and its billings grew 9% to $647.7 million. Adjusted net income fell 8% to $90.1 million, or $0.44 per share, but still cleared the consensus forecast by $0.02 per share.
For the third quarter, DocuSign expects revenue to rise 14% to 15% year over year as billings increase 3% to 5%. For the year, it expects revenue to grow about 18% while billings increase 8% to 9%. Those estimates matched analysts' expectations, but they would also represent DocuSign's slowest top-line growth rates since it went public four years ago.
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Source Fool.com
