DocuSign stock jumped 15% in after-hours: here’s the catalyst
Shares of DocuSign Inc (NASDAQ: DOCU) jumped more than 15% in extended trading after the e-signature company reported better-than-expected results for its third financial quarter.
DocuSign stock up on in line guidance
Investors are also cheering guidance that matched expectations.
DocuSign now forecasts up to $2.50 billion in revenue this year, including $637 million to $641 million it expects to generate in the current quarter. In the earnings press release, CEO Allan Thygesen said:
DocuSign is the pioneer and leader in eSignature. This gives us a strong foundation to create and deliver a delightful and differentiated workflow experience, making agreements smarter and easier for companies of all sizes.
For the year, DocuSign stock is still down more than 65%.
DocuSign Q3 earnings snapshot
Lost $29.9 million versus a much less $5.7 million last year
Per-share loss also climbed from 3 cents to 15 cents
Adjusted EPS is 57 cents as per the earnings press release
Revenue went up 18% year-over-year to $645.5 million
Consensus was 42 cents adjusted EPS on $626.9 million revenue
$659.4 million of billings were also way better than expected
According to DocuSign, it brought in $624 million from subscriptions this quarter and the remaining $21 million from professional services and other revenue. The Chief Executive added:
We delivered solid Q3 results and are pleased with the continues progress against our critical priorities. I look forward to continuing to advance our business, as we both innovate and operate at scale to deliver value for our stakeholders.
Those interested in buying DocuSign stock should consider that Wall Street currently has a consensus “hold” rating on this pandemic darling.
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