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DocuSign stock plunged after reporting its October-quarter earnings and revenue topped Wall Street targets, but revenue guidance for DOCU stock missed expectations.
San Francisco-based Docusign Inc (NASDAQ: DOCU) shares plummeted more than 28% in after-hours trading Thursday, after the company’s billings and revenue forecast missed expectations and its chief executive admitted a pandemic boom wore off in the quarter.
The consensus earnings estimate is $0.46 per share on revenue of $530.63 million; but the Whisper number is higher at $0.52 per share.
The company's guidance was for revenue of $526.00 million to $532.00 million. Consensus estimates are for year-over-year earnings growth of 187.50% with revenue increasing by 38.57%.
Short interest has decreased by 11.9% and overall earnings estimates have been revised lower since the company's last earnings release.
DocuSign reported a loss of $5.7 million in its fiscal third quarter. On a per-share basis, the San Francisco-based company said it had a loss of 3 cents. Earnings, adjusted for stock option expense and pretax expenses, were 58 cents per share. The results exceeded Wall Street expectations. The average estimate of analysts was for earnings of 46 cents per share.
The provider of electronic signature technology posted revenue of $545.5 million in the period, also topping Street forecasts. Analysts expected $530.63 million.
For the current quarter ending in January, DocuSign said it expects revenue in the range of $557 million to $563 million.
Highlights for Docusign Stock…..
"Third quarter revenue growth of 42% year-over-year and operating margin of 22% exceeded our expectations. After six quarters of accelerated growth, we saw customers return to more normalized buying patterns, resulting in 28% year-over-year billings growth," said Dan Springer, CEO of DocuSign. "With a $50 billion TAM and 1.11 million customers worldwide, we are confident in the value DocuSign delivers in an increasingly digital anywhere economy."
Positive Features for Docusign Stock…..
DocuSign recently announced several exciting new product capabilities to help businesses move forward including:
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