Is DocuSign Stock a Buy Now?
DocuSign's (NASDAQ: DOCU) stock declined 7% during after-hours trading on March 9 after the company posted its latest earnings report. For the fourth quarter of fiscal 2023, which ended on Jan. 31, the e-signature service provider's revenue rose 14% year over year to $660 million and exceeded analysts' expectations by $20 million. Its adjusted net income grew 33% to $133 million, or $0.65 per share, and also cleared the consensus forecast by $0.13.
For the full year, DocuSign's revenue rose 19% to $2.5 billion as its adjusted net income grew 2% to $419 million. Those growth rates seemed stable, but the bulls were unimpressed and the stock remains about 80% below its all-time high from September 2021. Let's see why this growth stock lost its luster -- and if it's a good turnaround play for 2023 and beyond.
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Source Fool.com
