Why Docusign Rallied Over 28% Today

Shares of Docusign (NASDAQ: DOCU) surged around 28.7% on Friday, as of 1:13 p.m. ET.

The company released third-quarter earnings last night, beating analyst estimates and guiding for a stronger-than-expected full year. Meanwhile, underlying metrics also told a positive story.

In the third quarter, Docusign had revenue growth of 8% to $754.8 million, and non-GAAP (adjusted) earnings per share of $0.90, with both figures handily beating analyst expectations. In addition, the company delivered strong guidance, most notably in terms of billings, which is a keen investor focus. Management projected billings rising to between $870 million to $880 million in Q4, accelerating from $752.3 million in the third quarter.

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Source Fool.com