DocuSign price target lowered by $2 at Morgan Stanley, here’s why

Morgan Stanley analyst Josh Baer lowered the firm’s price target on DocuSign to $49 from $51 and keeps an Underweight rating on the shares. While DocuSign delivered “a solid beat and raise” versus guidance and consensus, billings results were likely below investor expectations, the analyst says. Decelerating trends and low absolute growth in Q4 guidance “dampens hopes of more robust growth” in the first half of FY25, the analyst added.