Why DocuSign Stock Rose Today
Shares of DocuSign (NASDAQ: DOCU) climbed 2.9% on Thursday, even as the Dow Jones Industrial Average (DJINDICES: ^DJI) fell 1.4%, following bullish comments by analysts.
Wedbush analyst Daniel Ives reiterated his "outperform" rating on DocuSign's stock and boosted his target price from $165 to $240. Meanwhile, JMP Securities analyst Patrick Walravens also repeated his belief that DocuSign's stock will outperform the market, and he, too, raised his price forecast, from $150 to $233. Ives' and Walravens' new targets represent potential gains for investors of roughly 13% and 10%, respectively, based on DocuSign's closing price of $212.42.
DocuSign's shares rose on Thursday after two analysts lifted their price estimates. Image source: Getty Images.
Source Fool.com
