DocuSign falls after 'skinnier than usual' Q1 revenue beat, PT cuts

Docusign

07/06/2024 16:25

** Virtual document signing platform DocuSign's  DOCU.O 
shares fall 6.2% to $51.20
    ** On Thursday, company reported Q1 revenue of $709.6 mln vs
est $707.5 mln - LSEG
    ** DocuSign expects FY 2025 revenue in range of $2.92
bln-$2.93 bln vs est $2.93 bln
    ** Forecasts Q2 revenue between $725 mln and $729 mln vs est
$727 mln
    ** 4 brokerages cut PT on company's shares to between $59
and $72
    ** Brokerages say Q1 revenue beat est by 0.4%, which is
skinnier than the usual 2%-3%
    ** Reliance on single eSignature category provides limited
avenues for growth and momentum - BofA
    ** Including session's gains, stock down 15%, YTD

 (Reporting by Priyanka.G)
 ((priyanka.g@thomsonreuters.com))