DocuSign Inc
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Information Technology : Software | Large Cap Growth
Company profile

DocuSign Inc offers DocuSign Agreement Cloud, a software suite for automating the agreement process. It includes DocuSign eSignature, an electronic signature solution that allows an agreement to be signed electronically on a variety of devices. The Agreement Cloud also includes several other applications for automating pre- and post-signature processes, such as automatically generating an agreement from data in other systems, supporting negotiation workflow, collecting payment after signatures, and using artificial intelligence (AI) to analyze a collection of agreements for risks and opportunities. The Agreement Cloud also includes hundreds of integrations to other systems, so agreement processes can integrate with other business processes and data. Its key Agreement Cloud products include DocuSign Contract Lifecycle Management (CLM), Intelligent Insights, Gen for Salesforce, Negotiate for Salesforce, Guided Forms, Click, Identify, Standards-Based Signatures, Payments and eNotary.

Price
Delayed
$273.15
Day's Change
12.54 (4.81%)
Bid
--
Ask
--
B/A Size
--
Day's High
275.84
Day's Low
261.19
Volume
(Average)

Today's volume of 3,849,206 shares is on pace to be in-line with DOCU's 10-day average volume of 5,708,439 shares.

3,849,206

BlackBerry stock is now a 'sell' at Canaccord, as price is too rich to justify 'gradual' improvement in fundamentals

12:47 pm ET February 16, 2021 (MarketWatch)
Print

Tomi Kilgore

Price target raised 25% by analyst Michael Walkley, but rating cut as new target is 19% below current prices

Shares of BlackBerry Ltd. sank Tuesday, after Canaccord Genuity analyst Michael Walkley recommended investors sell, as prices have rallied too much recently to justify the improvement seen in the company's security software business.

Walkely said he believes BlackBerry has made positive strides integrating its Cylance artificial intelligence-based products (https://www.blackberry.com/us/en/cylance) to create a "compelling" cybersecurity platform. He expects a "gradual software and services recovery," with revenue returning to positive growth this year as sales to the automotive market (https://www.marketwatch.com/story/blackberrys-stock-rockets-toward-best-day-in-17-years-after-development-deal-with-amazons-aws-11606839391) should improve.

BlackBerry reported in December (https://www.marketwatch.com/story/blackberry-posts-wider-q3-losses-as-sales-fall-2020-12-17) fiscal third-quarter revenue that fell 20% from a year ago, and the current FactSet consensus calls for revenue for fiscal 2021, which ends this month, to fall 14.3%. But fiscal 2022 revenue is expected to rise 10.3%.

Based on his recovery view, Walkley raised his price target by 25%, to $10 from $8. But that new target is still 18.6% below current levels, and he cut his rating to sell, after being at hold for at least three years.

"[W]ith the volatility in the shares following recent unusual trading activity from a targeted short squeeze, the share price is above our increased price target, resulting in our downgrade to sell," Walkley wrote in a note to clients.

Don't miss: It isn't just GameStop: Here are some of the other heavily shorted stocks shooting higher (https://www.marketwatch.com/story/here-are-some-of-the-other-stocks-seeing-gamestop-like-short-squeezes-11611687693).

The U.S.-listed stock (BB.T) dropped 5.8% in midday trading. Although the stock has tumbled 51.1% since closing at a 9 1/2-year high of $25.10 on Jan. 27, it has still more than doubled (up136.6%) over the past three months. In comparison, the ETFMG Prime Cyber Security exchange-traded fund (HACK) has rallied 26.6% over the past three months and the S&P 500 index has gained 8.5%.

Even though the stock has pulled back sharply from its "Reddit driven rally" to its January high, "our analysis leads us to believe the shares are still overvalued," Walkley wrote.

And besides the recent short media-inspired volatility, Walkley noted that BlackBerry's software business has been growing "much slower" than those of its security software competitors. So despite improving fundamentals, he believes the stock should trade at a discount to rivals until there is "more proof in execution" on the company's product roadmap.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

February 16, 2021 12:47 ET (17:47 GMT)

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