Stock Groups

DocuSign Plunges as Return to Office Seen Sobering Demand for E-Signs -Breaking

by Mike Robinson

[ad_1]

© Reuters.

By Dhirendra Tripathi

Investing.com – DocuSign (NASDAQ:) stock plummeted nearly 32% in Friday’s premarket after the digital solutions provider handed out a forecast that disappointed traders.

The company sees itself billing clients less in the current quarter than it previously estimated, an indication the pandemic-fueled boom in the company’s business may be peaking.

Company reported that its annual billings for January 31 are at $2.34Billion, which is $78M less than the midpoint in its earlier guidance range.

The revised guidance came after the company’s third-quarter revenue grew 42% to around $546 million, reflecting the tempering in demand for its solutions that enable online onboarding of employees and e-signature of documents. It had risen to over 50% at the height of pandemic.

Dan Springer CEO stated that the third quarter witnessed customers returning to more regular buying patterns. The result was 28% growth in billings year-over. Adjusted basis net profit per share doubled to 58cs, beating estimates.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, futures, indexes and Forex. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this website’s data including quotes, charts, or buy/sell signal information. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]