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Why DocuSign Stock Slumped on Monday

TheMotleyFool

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Shares of DocuSign (NASDAQ: DOCU) slumped in early trading Monday, falling by as much as 5%. As of 1:12 p.m. ET, the stock was down by 3.7%.

The catalyst that sent the tech stock lower was an analyst's downgrade that pointed to increasing challenges for the company, at least in the short term.

RBC Capital analyst Rishi Jaluria downgraded DocuSign stock to sector perform (hold) from outperform (buy), and lowered his price target from $80 down to $65, according to The Fly. The stock closed trading Friday at $65.92.

Source Fool.com

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