DocuSign Inc DOCU is trading higher Wednesday as the stock continues to rebound after falling last week following earnings. DocuSign president and CEO Dan Springer, late Tuesday, disclosed the purchase of 33,675 shares.
What Happened: DocuSign announced third-quarter earnings of 58 cents per share, which beat the estimate of 46 cents per share. The company reported quarterly revenue of $545.46 million, which beat the estimate of $530.63 million.
Billings came in at $565.2 million, representing an increase of 28% year-over-year, but the growth was down from previous quarters.
"After six quarters of accelerated growth, we saw customers return to more normalized buying patterns, resulting in 28% year-over-year billings growth," Springer said.
DocuSign also guided lower for fourth-quarter billings, expecting growth of 21% to 23% versus close to 50% growth previously.
Related Link: Is It Time To Buy DocuSign Stock Following Q3 Results? Stephanie Link Weighs In
DOCU Price Action: DocuSign has traded as high as $314.76 and as low as $131.51 over a 52-week period.
The stock was up 7.81% at $149.43 at time of publication.
Photo: courtesy of DocuSign.
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