Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

DocuSign shares plunge nearly 40% after the company gave weak guidance

by
December 3, 2021
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Stocks trim losses, but the S&P 500 is on track for worst first half in decades

The market’s worst first half in 50 years has all come down to one thing

Dan Springer, chief executive officer at DocuSign.

David Paul Morris | Bloomberg | Getty Images

Shares of e-signature software maker DocuSign were down more than 39% Friday morning after the company reported guidance for the fourth quarter that fell short of analyst estimates.

DocuSign predicted fourth-quarter revenue would come between $557 million and $563 million, while analysts had on average expected revenue of $573.8 million for the quarter, according to Refinitiv.

Still, DocuSign beat analyst expectations for the third quarter, reporting earnings per share of 58 cents, adjusted, compared to 46 cents analysts anticipated, and $545.5 million in revenue versus $531 million expected, according to Refinitiv.

Several firms, including JPMorgan, Piper Sandler, UBS and Wedbush lowered their ratings on the stock following the earnings report. While Citi analyst Tyler Radke maintained a buy rating, he cut his price target from $389 a share to $231, calling the report, “one of the biggest [software as a service] whiffs in recent memory.”

“The pandemic tailwinds came to a much faster than expected halt for DocuSign, catching the company off guard,” JPMorgan analyst Sterling Auty wrote in a note to clients.

The company has seen rapid growth as it benefited from the rise of remote work during the pandemic. DocuSign reported its sixth straight period of revenue growth of over 40%, but said in the next quarter it anticipates growth to come in around 30%.

CEO Dan Springer acknowledged that the figure would be a disappointment after such exceptional growth earlier in the year.

“While we had expected an eventual step down from the peak levels of growth achieved during the height of the pandemic, the environment shifted more quickly than we anticipated,” Springer said on the earnings call.

The company also said its president of international, who was previously CFO, left the company on Nov. 30.

-CNBC’s Ari Levy contributed to this report.

Subscribe to CNBC on YouTube.

WATCH: These tech stocks have room to run, Fundstrat’s Tom Lee says

ShareTweetPin

Related Posts

Stocks trim losses, but the S&P 500 is on track for worst first half in decades

by
June 30, 2022
0

Stocks fell on Thursday, as the S&P 500 caps off its worst first half in more than 50 years. The...

The market’s worst first half in 50 years has all come down to one thing

by
June 30, 2022
0

Traders on the floor of the NYSE, June 29, 2022. Source: NYSE A multitude of factors conspired to generate the...

‘I wouldn’t be successful at my job without her’: My friend cleans, cooks and cares for my child. I pay her $50 a day. Am I taking advantage of her?

by
June 30, 2022
0

Dear Quentin, I’m a working-from-home mom and my supervisors have no intentions of bringing me back to the office at...

Apple opens up third-party app payments in Korea, will still take 26% cut

by
June 30, 2022
0

Tim Cook at the Apple launch event, March 8, 2022 Apple Apple said on Thursday that developers with iPhone apps...

These are analysts’ favorite Dow stocks for the second half of 2022

by
June 30, 2022
0

One of the worst six-month periods for stocks in decades comes to an end on Thursday. The first half of...

Next Post

Here's where the jobs are -- in one chart

S&P 500 drops on Friday, stocks head for losing week from omicron fears

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com