Is DocuSign a Buy After Its Post-Earnings Crash?
Shares of digital signature company DocuSign (NASDAQ: DOCU) fell more than 26% the day after the company reported its fiscal 2023 first-quarter earnings. This is the most recent chapter in a rough 12 months that have seen the stock fall from a high of $315 to a low of $60.
However, as we have witnessed many times before, the market's initial reaction to a company's earnings is often overblown, making the results seem worse (or better) than they really are. So is that what happened with DocuSign? Let's take a closer look at the quarter to see if DocuSign might actually be a buy after this sell-off.
The headline growth numbers for fiscal 2023 first quarter were decent but nothing extraordinary. Revenue grew 25% year over year; billings increased 16%; and the quarter ended with 1.24 million customers, up 25%. Taken without context, there's nothing to be worried about here.
Source Fool.com
