DocuSign price target raised to $115 from $95 at Jefferies

Jefferies raised the firm’s price target on DocuSign (DOCU) to $115 from $95 and keeps a Buy rating on the shares. DocuSign “delivered a clean beat and raise” as both top line and billings growth accelerated, driven by early renewals, stabilization in the core and positive IAM momentum, the analyst tells investors. Despite a 60%-plus move up in the stock since fiscal Q2, the stock still “trades attractively” given its valuation discount compared to peers, the analyst added.