DocuSign gains on FY rev forecast raise, Q2 results beat

Docusign

06/09/2024 15:06

** Virtual document signing platform DocuSign's  DOCU.O 
shares rise ~1.5% to $57.80 in morning trading 
    ** DOCU after market on Thursday raised its forecast for
full-year revenue to a range of $2.94 bln to $2.95 bln from
$2.92 bln to $2.93 bln
    ** DOCU reported Q2 revenue of $736 mln, beating analysts'
estimates of $727.4 mln - LSEG data
    ** Co's quarterly adjusted EPS of 97 cents also handily
surpassed Wall Street expectations of 80 cents 
    ** "A small billings beat but a larger revenue and
profitability beat and raise offered more signs of validation
that DocuSign continues to stabilize growth," Citi analysts
write in a note 
    ** At least three brokerages raise price targets on the
stock after results 
    ** Including session's moves, stock down ~2.5% YTD  
    

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))