DocuSign price target raised to $95 from $90 at RBC Capital

RBC Capital raised the firm’s price target on DocuSign (DOCU) to $95 from $90 and keeps a Sector Perform rating on the shares. The company reported solid Q2 results highlighted by Revenue, Subscription Revenue, Billings, and Non-GAAP Operating Margin coming in above consensus and guidance, the analyst tells investors in a research note. DocuSign’s net retention rate also improved to 102% vs. 101% in Q1 as DocuSign saw strength across core eSignature and continued signs of early traction with IAM, RBC added.