DocuSign's specializes in providing cloud-based solutions for managing and signing agreements and contracts.
Shares of DocuSign surged as much as 24% on Friday after the company posted revenue that beat Wall Street expectations. The company reported total revenue of $235.6 million in the second quarter, up from 41% during the same period last year. Wedbush analyst Daniel Ives upgraded the stock to"outperform" from"neutral" and raised his price target to $65 from $48. Ives cited DocuSign's growing revenues and total billings as the drivers for the upgrade.
Shares of DocuSign surged as much as 24% on Friday after the company posted revenue that beat Wall Street expectations. The company reported total revenue of $235.6 million in the second quarter, up from 41% during the same period last year. Wedbush analyst Daniel Ives upgraded the stock to"outperform" from"neutral" and raised his price target to $65 from $48. Ives cited DocuSign's growing revenues and total billings as the drivers for the upgrade.
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