DocuSign up after William Blair rating upgrade
Shares of virtual document signing platform DocuSign DOCU.O rise 1.4% to $84.57
Brokerage William Blair upgrades DOCU's rating to "outperform"
William Blair is bullish on the market opportunity ahead for DOCU's Intelligent Agreement Management platform (IAM) and ability of new product cycle to reaccelerate growth
Says DocuSign is starting to develop an even stickier customer base as it gains more traction with IAM - William Blair
Usage/utilization for the DOCU's core e-signature business is improving as it increases retention and majority of COVID-era contracts have now rolled off the model - brokerage
Five of 23 brokerages rate the stock "buy" or higher, 16 "hold" and two "sell"; their median PT is $97.30, according to data compiled by LSEG
Stock has fallen ~8% YTD, up to Monday's close
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