Shares of DocuSign (NASDAQ:DOCU) soared over 14% in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2022. Adjusted earnings per share came in at $0.57, which beat analysts’ consensus estimate of $0.42 per share.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Sales increased by 18.3% year-over-year, with revenue hitting $645.5 million. This beat analysts’ expectations of $627.2 million.
Looking forward, management now expects revenue for Q4 2022 to be in the range of $637 million to $641 million. For reference, analysts were expecting $641.69 million in revenue.
Overall, Wall Street has a consensus price target of $59.86 on DOCU stock, implying 36.82% upside potential, as indicated by the graphic above.
