Why DocuSign Stock Jumped Today
Shares of DocuSign (NASDAQ: DOCU) have jumped today, up by 5% as of 12:05 p.m. EDT, after getting an upgrade from Wall Street. Morgan Stanley boosted its rating from equal weight (equivalent to a neutral) to overweight (equivalent to a buy) while assigning a price target of $260, representing roughly 19% upside from Friday's closing price.
Analyst Stan Zlotsky believes that the shift to digital signatures, which has been accelerated by the coronavirus pandemic, is here to stay. Zlotsky argues that the company's "strong fundamentals and durable Covid-19 tailwinds make the DocuSign story more compelling than ever."
Image source: DocuSign.
Source Fool.com
