Wells Fargo analyst Michael Turrin lowered the firm’s price target on DocuSign to $60 from $65 and keeps an Equal Weight rating on the shares. DocuSign’s Q4 results were relatively clean, and while the preliminary outlook provided last quarter was mostly maintained, a newly announced CFO transition following a series of management changes and +2% FY24 billings guidance suggest challenges are still ahead, the analyst tells investors in a research note.
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Published first on TheFly
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Read More on DOCU:
- JPMorgan downgrades DocuSign to Underweight on deteriorating trends
- DocuSign price target raised to $70 from $50 at Baird
- DocuSign downgraded to Underweight from Neutral at JPMorgan
- Winning Earnings Can’t Prevent DOCU Losses
- DocuSign CFO Cynthia Gaylor to step down later this year
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