DocuSign price target lowered to $69 from $90 at Morgan Stanley

Morgan Stanley analyst Josh Baer lowered the firm’s price target on DocuSign (DOCU) to $69 from $90 and keeps an Equal Weight rating on the shares. Docusign reported “solid results” ahead of consensus, though the degree of upside was narrower and limited margin expansion and flat 102% DNR “limits upside,” the analyst tells investors in a post-earnings note.