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..."Danny Vena (DocuSign): Last year was a watershed period for DocuSign. Remote work became the rule rather than the exception, causing demand to surge for the digital signature provider's services and sending its stock up by 200%.

However, with the loosening of restrictions this year made possible by the arrival of effective COVID-19 vaccines, DocuSign's stock has essentially been flat, giving in-the-know investors a rare opportunity.

There's little question that the company is the undisputed leader in the e-signature space, with a 70% share of the market.  That's because agreements signed with DocuSign are legally binding in more than 180 countries, can be signed in 44 languages, and sent in 14, making it the worldwide standard in electronic signatures.

This process saves users time and money. Roughly 82% of DocuSign agreements are finalized in one day, nine days quicker, on average, than processes that involve signing paper documents. This works out to savings of roughly $36 per document, on average, compared to their paper equivalent.

The company now has more than 1 million paying customers and over 1 billion users worldwide. Among the Fortune 500, its clients include 13 of the top 15 technology companies, 14 of the top 15 healthcare companies, and all of the top 15 financial companies. That alone represents a compelling argument for investing in DocuSign.

But according to CEO Dan Springer, that's just the beginning of the customer relationship. "Typically, e-signature is the first step that many customers take on their broader digital transformation journey with us," he said on an earnings call last year. "So from a financial point of view, we believe this surge in e-signature adoption bodes well for future Agreement Cloud expansion."

The Agreement Cloud is DocuSign's contract lifecycle management (CLM) platform, which provides a suite of applications and integrations designed to help organizations automate the lifecycle of an agreement process, including initiation, authoring, process and workflow, negotiation, approval, execution, management and compliance, and renewal.

Companies can also use its one-click consent feature to capture consent on their websites, automate government-issued ID authentication, as well as to manage agreements from inception to completion.

DocuSign's financial results paint a compelling picture. For the first half of its fiscal 2022 (which ended July 31), the company generated revenue of $980 million, up 53% year over year, accelerating from 49% growth in the prior-year period. Billings -- a metric that includes contractually obligated sales not yet included in revenue -- jumped 50% to $1.1 billion, providing clear visibility into the company's potential. By the time you read this, DocuSign will have released its third-quarter financial report, but the results of a single quarter won't change the overall investing thesis or the massive opportunity that remains.

While DocuSign isn't yet profitable, it generates plentiful amounts of cash. For the first six months of fiscal its 2022, operating cash flow climbed 77% to $313 million, while free cash flow surged 115% to $285 million -- which should put to rest any concerns about profitability.

With revenue of $1.5 billion in its fiscal 2021, DocuSign has barely scratched the surface of a total addressable market it estimates to be roughly $50 billion. 

Finally, during the recent tech sell-off, DocuSign has lost roughly a quarter of its value though there have been no changes to its prospects, making this growth tech stock a compelling opportunity. ..."

Abschnitt aus diesem Artikel:
https://www.fool.com/investing/2021/12/05/3-top-stocks-to-buy-in-the-midst-of-the-tech-sello/