BofA lowered the firm’s price target on DocuSign (DOCU) to $98 from $112 and keeps a Neutral rating on the shares. DocuSign delivered “a solid Q4” that marked the second consecutive quarter of accelerating growth, the analyst tells investors. We “encouraged” by solid Q4 results that suggest DocuSign is executing well on growth initiatives to drive a healthy reacceleration, the firm stays Neutral on valuation and is lowering its target to account for multiple compression across the group, the analyst explains.
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