DocuSign price target raised to $97 from $62 at Morgan Stanley

Morgan Stanley raised the firm’s price target on DocuSign (DOCU) to $97 from $62 and keeps an Equal Weight rating on the shares. Docusign is executing to its strategic plan with “several encouraging trends” driving outperformance in Q3 and stronger than expected Q4 billings guidance, the analyst tells investors. Fundamentally, metrics and commentary showed stabilization or improvement, but significant share outperformance and a stock in the mid-$90’s in the afterhours “suggests a bullish path ahead is well reflected in shares,” the analyst argues.