DocuSign price target raised to $90 from $57 at RBC Capital

RBC Capital raised the firm’s price target on DocuSign (DOCU) to $90 from $57 but keeps a Sector Perform rating on the shares. The company reported a good beat-and-raise quarter that was highlighted by billings acceleration, the analyst tells investors in a research note. RBC adds however that while there was improvement in the core business, the case for meaningful acceleration rests on DocuSign ramping its IAM platform, which remains early.