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. 

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Source Fool.com