DocuSign price target lowered to $50 from $57 at Piper Sandler

Piper Sandler analyst Rob Owens lowered the firm’s price target on DocuSign to $50 from $57 and keeps a Neutral rating on the shares. DocuSign’s Q3 results were ahead of expectations on the top and bottom-line, beating a modest setup, and billings growth of 5% fell from 10% in the previous two quarters, showing the lowest upside to guidance in six quarters, the analyst tells investors in a research note.