Why DocuSign Stock Is Sliding Today

DocuSign Inc DOCU shares are trading lower Monday following bearish analyst coverage from Wolfe Research.

Wolfe Research analyst Alex Zukin downgraded DocuSign from a Peer Perform rating to an Underperform rating and announced a $50 price target.

The downgrade comes after the company reported worse-than-expected earnings results last week. DocuSign reported fiscal first-quarter adjusted earnings of 38 cents per share, which missed the estimate of 46 cents per share, according to data from Benzinga Pro.

DocuSign offers a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device.

See Also: Morning Brief: Top Financial Stories Dominating on Monday, June 13

DOCU Price Action: DocuSign has traded between $314.76 and $64.84 over a 52-week period.

The stock was down 6.26% at $61.80 at press time.

Photo: courtesy of DocuSign.

Posted In: why it's movingDowngradesPrice TargetAnalyst RatingsMoversTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.