William Blair analyst Jake Roberge has maintained their bullish stance on DOCU stock, giving a Buy rating yesterday.
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Jake Roberge has given his Buy rating due to a combination of factors including confidence in DocuSign’s strategic direction and growth potential. After discussions with the company’s CEO and CFO, Roberge believes that recent challenges in billings are temporary and primarily due to strategic changes in the company’s go-to-market approach. These changes are intended to prioritize customer expansions and the adoption of IAM solutions, which are expected to benefit the company in the long run.
Management’s assurance that the billings issues were related to the timing of early renewals, rather than a decline in demand, supports Roberge’s positive outlook. Furthermore, the company’s plan to accelerate growth throughout the year, driven by improved consumption trends and retention rates in its core e-signature business, as well as the promising adoption of its IAM suite, reinforces the Buy rating. Roberge acknowledges the complexities introduced by recent performance but remains confident in the underlying health of DocuSign’s business.
According to TipRanks, Roberge is an analyst with an average return of -3.5% and a 46.05% success rate. Roberge covers the Technology sector, focusing on stocks such as DocuSign, BlackLine, and Vertex.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $110.00 price target.
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