Is DocuSign Stock a Buy Now?
Among the work-from-home era stocks that rose and fell is DocuSign (NASDAQ: DOCU), the e-signature software company. Although the stock was stellar in 2020 and 2021, it has been atrocious since then, and sits 85% down from its all-time high.
After reporting Q2 of FY 2024 results, the stock didn't fare well, and dropped around 4%. So is this weakness the time to buy DocuSign's stock? Or is there something else going on here? Let's find out.
DocuSign's suite of e-signature products transitioned from nice-to-have before 2020 to must-have when entities could no longer sign binding contracts in person. Although many people have returned to face-to-face meetings, the convenience of signing documents digitally has remained. As a result, DocuSign's customer base hasn't dropped the product, but it has been difficult to get this existing base to increase its usage into ancillary products like contract life-cycle management or document generation.
Source Fool.com
DocuSign Inc. Stock
Currently there is a rather negative sentiment for DocuSign Inc. with 3 Buy predictions and 7 Sell predictions..
With a target price of 45 € there is a slightly negative potential of -16.04% for DocuSign Inc. compared to the current price of 53.6 €.
