DocuSign price target lowered to $62 from $65 at Morgan Stanley

Morgan Stanley analyst Josh Baer lowered the firm’s price target on DocuSign to $62 from $65 and keeps an Equal Weight rating on the shares. While Docusign beat guidance and consensus in Q1 and raised top-line guidance for FY25, results and guidance came in below investor expectations, the analyst noted. In addition to a narrower beat in Q1, management talked about tightening the guidance range to give more precise guidance and implied a slightly changed guidance philosophy that might yield a smaller degree of upside ahead, the analyst contends.