DOCU Increases Full Year Guidance, Shares Pop
Docusign (DOCU) – the leader in esignature solutions – just reported 1Q23 earnings. The stock has been destroyed in the last couple years but it may be finding a bottom. For the first time since I’ve been following the stock, they significantly raised full year guidance on all relevant metrics. DOCU currently expects revenue of $2713-$2725 million this year – versus $2695-$2707 three months ago. Billings are expected to come in at $2737-$2757 – compared to $2705-$2725 three months ago. And operating margin for the full year is expected to be between 22-24% – compared to 21-23% three months ago. In other words: all the fundamental metrics are now starting to trend in the right direction. Shares are currently +12% in the after hours.