DocuSign Inc (NASDAQ:DOCU) is trading higher Friday after the company announced better-than-expected second quarter fiscal 2022 financial results and issued guidance above estimates. 

DocuSign reported quarterly earnings of 47 cents per share, which beat the estimate of 40 cents per share. The company reported quarterly revenue of $511.8 million, which beat the estimate of $487.5 million. 

DocuSign expects third-quarter fiscal 2022 revenue to be in a range of $526 million to $532 million versus the estimate of $520.62 million.

The company expects full-year fiscal 2022 revenue to be in a range of $2.078 billion to $2.088 billion versus the estimate of $2.05 billion.

"Organizations of all types and sizes are leveraging the power of the Agreement Cloud to digitize the most foundational process of doing business—the agreement process—starting with eSignature," said Dan Springer, CEO of DocuSign.

Analyst Assessment: Multiple analyst firms raised price targets on the stock following the report:

DOCU Price Action: has traded as high as $314.76 and as low as $179.49 over a 52-week period.

The stock was up 6.64% at $314.12 at time of publication.

Photo: courtesy of DocuSign.