DocuSign Stock: Is It a Buy?
Shares of DocuSign (NASDAQ: DOCU) surged higher on Friday as investors cheered the company's strong fiscal second-quarter results. Analysts raved about the company's progress, with at least eight of them raising their 12-month price targets for the growth stock. UBS analyst Karl Keirstead, for instance, reiterated a buy rating on the stock and boosted his 12-month price target for shares from $340 to $350, noting that the company looks poised to sustain high growth rates for a long time. Needham analyst Scott Berg, who raised his 12-month price target from $275 to $340 after the report, noted that the company's revenue growth deceleration amid a reopening economy was much slower than expected.
Are analysts right to be so bullish on this stock?
Image source: DocuSign.
Source Fool.com
