Why DocuSign Stock Fell Hard Today
Shares of DocuSign (NASDAQ: DOCU) continued to drop today after the company reported worse-than-expected first-quarter results last week. Investors were likely also reacting to an analyst downgrading the tech stock and cutting its price target.
DocuSign's stock price was down by 10.8% as of 10:55 a.m. ET on Monday.
Investors kept their pessimistic view of DocuSign today after the company's report of adjusted earnings of $0.38 for the first quarter, which significantly missed Wall Street's consensus estimate of $0.46. That miss sent DocuSign's share price plummeting 25% on Friday.
Source Fool.com