DocuSign price target raised to $95 from $80 at Jefferies

Jefferies raised the firm’s price target on DocuSign (DOCU) to $95 from $80 and keeps a Buy rating on the shares. The shares are up 40% since the fiscal Q2 earnings report as investors view DocuSign as an interest rate cut beneficiary with an attractive setup, the analyst tells investors in a research note. The firm says the company is facing the easiest billing comp of the year in Q3 and that 3% growth estimates “seem conservative.” Jefferies remains long shares on DocuSign’s ability to drive sales growth while delivering higher margins of 30%-plus.