27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Shares of DocuSign Inc (NASDAQ:DOCU) came under pressure last week, after the company announced plans to slash 10% of its workforce.
The latest layoff announcement sends “a negative demand signal” about the company’s growth in fiscal 2024, which the stock does not reflect, according to UBS.
The Analyst: Karl Keirstead downgraded DocuSign from Neutral to Sell, while keeping the price target unchanged at $52.
Check out other analyst stock ratings.
The Thesis: The stock has rallied around 54% from its December lows and does not appear compelling relative to other low-growth software peers, Keirstead said in the downgrade note.
“While intrigued by changes that the new CEO might make, our latest round of checks point to flattish/negative billings growth in CY23/FY24, a highly-penetrated TAM, an increasingly competitive rival in the form of Adobe, continued contract volume down-sizing risk upon renewals and a slowdown in the CLM segment,” the analyst wrote.
“We’re also cognizant that DocuSign has historically been very tied to the go-to-market engine of Salesforce, which is going through an unprecedented growth deceleration as well as internal disruption,” he added.
DOCU Price Action: Shares of DocuSign had lost 6.16% to reach $64.47 in the premarket session on Tuesday.
Next: DocuSign Lets Go Of 10% Of It's Workforce
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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