Why DocuSign Stock Crashed Today
Shares of DocuSign (NASDAQ: DOCU) plunged on Friday after the e-signature leader warned of slowing growth in the coming year. As of 3 p.m. ET, DocuSign's stock price was down more than 20%.
DocuSign's revenue rose 35% year over year to $580.8 million in its fiscal 2022 fourth quarter, which ended on Jan. 31. The company's billings -- a closely followed metric that combines sales to new customers, subscription renewals, and additional sales to existing clients -- climbed 25%.
The gains reflect increased spending by businesses on digitalization initiatives during the pandemic, fueled by the growth of remote work and more distributed workforces.
Source Fool.com
