DocuSign Might Be Finding Its Feet, but Is the Stock a Buy Now?
The pandemic has been a trying time for many companies, particularly during the height of social restrictions in 2020 and 2021. But on the flip side, it was the strongest period ever for a cohort of technology organizations that helped to keep the economy moving even as conducting business in person was hampered.
DocuSign (NASDAQ: DOCU) is one of those companies. Yet as widespread vaccinations rolled out and businesses have largely reopened, the company has struggled to maintain its lofty growth rates this year. As a result, investors have sent DocuSign stock plunging 81% from its all-time high.
The company just reported its financial results for the second quarter of fiscal 2023 (ended July 31), and not only did it show a healthy jump in sales, but DocuSign also expressed renewed enthusiasm by increasing its full-year guidance. The stock soared 18% in after-hours trading following the release, but should investors rush in to buy it now?
Source Fool.com
