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Why DocuSign Stock Popped Today

TheMotleyFool

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Shares of DocuSign (NASDAQ: DOCU) have popped today, up by 11.5% as of 1:50 p.m. EDT, after getting a thumbs-up from Wall Street. RBC Capital reiterated its outperform rating on the stock and increased its price target from $170 to $210.

Analyst Alex Zukin points to positive data from mobile analytics specialist SensorTower that suggests DocuSign is enjoying robust demand amid the COVID-19 pandemic, which has accelerated many companies' shift to digital strategies. DocuSign has been instrumental in helping businesses maintain contactless agreement processes while practicing social distancing.

Image source: DocuSign.

Source Fool.com

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