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Here's Why Investors Should Bet on DocuSign (DOCU) Stock Now
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DocuSign, Inc. (DOCU - Free Report) has performed impressively over the past six months and has the potential to increase momentum in the near term. If you haven’t taken advantage of its share price appreciation yet, it is time for you to add the stock to your portfolio.
Why an Attractive Pick?
Share Price Appreciation: A glimpse at the company’s price trend reveals that the stock has had an impressive run. DOCU has returned 18.4% over the past six months, which compares favorably with the 1.6% rise of the industry it belongs to.
Solid Rank: DocuSign currently carries a Zacks Rank #2 (Buy). Our research shows that stocks with a Zacks Rank #1 (Strong Buy) or #2 offer attractive investment opportunities for investors. Thus, the company appears to be a compelling investment proposition at the moment. You can see the complete list of today’s Zacks #1 Rank stocks here.
Northward Estimate Revisions: One estimate for the current year moved north over the past 60 days versus no southward revisions, reflecting analysts’ confidence in the company. Over the same period, the Zacks Consensus Estimate for the current year increased 0.9%.
Positive Earnings Surprise History: DOCU has an impressive earnings surprise history. It outpaced the Zacks Consensus Estimate in three of the trailing four quartersand missed once, delivering an average earnings surprise of 12.3%.
Strong Growth Prospects: The company’s Zacks Consensus Estimate for fiscal 2024 earnings of $2.34 indicates year-over-year growth of 15.3%. Earnings are expected to register 9.8% growth in fiscal 2025. The stock has long-term expected earnings per share growth rate of 14.3%.
Growth Drivers: eSignature, DocuSign’s anchor product, enables virtual but secure signing and sending of agreements on a variety of devices, from anywhere in the world. The company’s top line is significantly benefiting from continued customer demand for eSignature. Despite this rising demand, the market for eSignature remains largely untapped, and this keeps it in a position to expand eSignature across businesses around the world.
DocuSign has a set of business growth strategies. The company remains focused on continuously acquiring eSignature customers, expanding eSignature use cases within existing customers, improving its offerings and popularizing other Agreement Cloud products to new and existing customers, and expanding internationally. It continues to invest in sales, marketing and technical expertise across several industry verticals.
GDOT currently sports a Zacks Rank of 1. For the second quarter of 2023, the Zacks Consensus Estimate for Green Dot’s revenues is expected to decline 4.2% year over year to $340.1 million and earnings to decrease 52.7% to 35 cents. The company has an impressive earnings surprise history, beating the Zacks Consensus mark in all the four trailing quarters. It has an average surprise of 37.3%.
MMS currently carries a Zacks Rank of 2. For second-quarter 2023, the Zacks Consensus Estimate for Maximus’ revenues indicates year-over-year growth of 6.1% to $1.2 billion and an increase in earnings of 33.3% to $1.04. The company has an impressive earning surprise history, beating the consensus mark in three instances and missing on one instance. It has an average surprise of 9.6%.
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Here's Why Investors Should Bet on DocuSign (DOCU) Stock Now
DocuSign, Inc. (DOCU - Free Report) has performed impressively over the past six months and has the potential to increase momentum in the near term. If you haven’t taken advantage of its share price appreciation yet, it is time for you to add the stock to your portfolio.
Why an Attractive Pick?
Share Price Appreciation: A glimpse at the company’s price trend reveals that the stock has had an impressive run. DOCU has returned 18.4% over the past six months, which compares favorably with the 1.6% rise of the industry it belongs to.
DocuSign Price
DocuSign price | DocuSign Quote
Solid Rank: DocuSign currently carries a Zacks Rank #2 (Buy). Our research shows that stocks with a Zacks Rank #1 (Strong Buy) or #2 offer attractive investment opportunities for investors. Thus, the company appears to be a compelling investment proposition at the moment. You can see the complete list of today’s Zacks #1 Rank stocks here.
Northward Estimate Revisions: One estimate for the current year moved north over the past 60 days versus no southward revisions, reflecting analysts’ confidence in the company. Over the same period, the Zacks Consensus Estimate for the current year increased 0.9%.
Positive Earnings Surprise History: DOCU has an impressive earnings surprise history. It outpaced the Zacks Consensus Estimate in three of the trailing four quartersand missed once, delivering an average earnings surprise of 12.3%.
Strong Growth Prospects: The company’s Zacks Consensus Estimate for fiscal 2024 earnings of $2.34 indicates year-over-year growth of 15.3%. Earnings are expected to register 9.8% growth in fiscal 2025. The stock has long-term expected earnings per share growth rate of 14.3%.
Growth Drivers: eSignature, DocuSign’s anchor product, enables virtual but secure signing and sending of agreements on a variety of devices, from anywhere in the world. The company’s top line is significantly benefiting from continued customer demand for eSignature. Despite this rising demand, the market for eSignature remains largely untapped, and this keeps it in a position to expand eSignature across businesses around the world.
DocuSign has a set of business growth strategies. The company remains focused on continuously acquiring eSignature customers, expanding eSignature use cases within existing customers, improving its offerings and popularizing other Agreement Cloud products to new and existing customers, and expanding internationally. It continues to invest in sales, marketing and technical expertise across several industry verticals.
Other Stocks to Consider
Some other top-ranked stocks in the Zacks Business Services sector are Green Dot (GDOT - Free Report) and Maximus (MMS - Free Report) .
GDOT currently sports a Zacks Rank of 1. For the second quarter of 2023, the Zacks Consensus Estimate for Green Dot’s revenues is expected to decline 4.2% year over year to $340.1 million and earnings to decrease 52.7% to 35 cents. The company has an impressive earnings surprise history, beating the Zacks Consensus mark in all the four trailing quarters. It has an average surprise of 37.3%.
MMS currently carries a Zacks Rank of 2. For second-quarter 2023, the Zacks Consensus Estimate for Maximus’ revenues indicates year-over-year growth of 6.1% to $1.2 billion and an increase in earnings of 33.3% to $1.04. The company has an impressive earning surprise history, beating the consensus mark in three instances and missing on one instance. It has an average surprise of 9.6%.