Why DocuSign Stock Popped This Morning

Shares of DocuSign (NASDAQ: DOCU) popped as much as 8% this morning after getting a bullish upgrade from Wall Street. Oppenheimer reiterated an outperform rating and boosted its price target from $200 to $300. The stock has since given up all of those gains and is down by 3% as of 2:20 p.m. EDT.

Analyst Koji Ikeda is optimistic that DocuSign will be able to report better-than-expected results for the second quarter. Even though the stock has already soared 250% so far this year, the analyst believes that the company can continue to generate strong revenue growth in the long term.

Image source: DocuSign.

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Source Fool.com