Is DocuSign Stock A Buy At Current Levels?
DocuSign (NASDAQ: DOCU) is widely seen as one of the world's foremost providers of digital signature software. The company has over 1 million paying customers across multiple industries and operates in over 180 countries worldwide , making it a true global solution for e-signatures. The company was founded back in 2003 and made its debut on the NASDAQ exchange back in 2018. Since its IPO, the stock has returned nearly 600% and holds a market cap just below $55 billion.
Source: Getty Images.
DocuSign was one of those companies that investors and traders alike flocked to during the 'pandemic trade' which was largely due to the perception that the COVID-19 pandemic would provide tailwinds for its core business. With many offices closed to the public, businesses began relying on digital means to manage agreements and transactions, particularly in industries like real estate and legal and financial agreements, where clients and customers could now sign documents remotely. DocuSign anticipates that through its products and services, it has an estimated total addressable market of $50 billion , which is something investors should pay attention to.
Source Fool.com
