DocuSign price target raised to $80 from $70 at Jefferies

Jefferies raised the firm’s price target on DocuSign to $80 from $70 and keeps a Buy rating on the shares. The company has the easiest compares of the year in fiscal Q4 and they should continue to ease sequentially through fiscal 2024, the analyst tells investors in a research note. In addition, DocuSign’s second workforce redaction in six month should drive margins higher in the near-term, but there is some question whether it sales growth will be subdued, the firm says. It expects CEO Allan Thygesen to improve execution and finds the stock attractively valued.