Why DocuSign Stock Jumped 16% Friday Morning
Shares of DocuSign (NASDAQ: DOCU) rose as much as 15.9% on Friday morning, driven by a strong fourth-quarter earnings report with a side of optimistic guidance for the next reporting period. The provider of cloud-based document signing and management services retreated to a smaller gain of 6.1% at 12:40 p.m. EDT.
DocuSign's fourth-quarter sales rose 38%, landing at $375 million. Adjusted earnings doubled year over year to $0.12 per diluted share. Your average Wall Street analyst would have settled for earnings of roughly $0.05 per share on revenue near $266 million. Looking ahead, DocuSign sees first-quarter revenue in the neighborhood of $282 million. Here, the current analyst consensus stops at $276 million.
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Source Fool.com
