Jefferies analyst Brent Thill upgraded DocuSign to Buy from Hold with a price target of $70, up from $50. The analyst sees a "mixed to negative outlook" in the first half of 2023 for software with weakening fundamentals and continued multiple pressure. However, good news is likely to come in the second half of the year with reset multiples and a reacceleration of growth at some point in 2024, Thill tells investors in a research note. He upgarded the shares as part of his 2023 software playbook.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on DOCU:
- DocuSign price target raised to $55 from $50 at Piper Sandler
- DocuSign management to meet virtually with Needham
- #SocialStocks: Republican lawmakers investigate heads of Twitter, Meta
- DocuSign call volume above normal and directionally bullish
- RIVN, WBD Make it Into NASDAQ-100 in Rejig; BIDU, MTCH Exit
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue