#10 - DocuSign (NASDAQ:DOCU)
DocuSign (NASDAQ:DOCU), like Zoom finds itself with a perfect opportunity to expand its user base. The company is coming off a strong 2020 fiscal year that ended on January 31, 2020. At that time, the company forecast forward guidance of a 31% revenue gain for fiscal 2021. In fact, DocuSign is on pace to log $1 billion in revenue, putting it in elite company among software-as-a-service (SaaS) companies.
However, that was before workers were ordered to work from home. DocuSign should see usage increase during this period of social distancing. And as more businesses try the technology, it’s likely to continue to generate revenue well into the future.
The market seems to agree. Despite the market sell-off, DOCU stock has been on a surge and is now up over 10% in 2020. Another catalyst for the stock is their proposed acquisition of Seal Software. Seal provides artificial intelligence (AI) powered contract discovery and contract management software solutions.
About DocuSign
DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.
Read More - Current Price
- $83.03
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 7 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $65.80 (20.8% Downside)
As you consider buying tech stocks at this time, remember that while our economy will come back, it may not come back in exactly the same way we expect. Anytime our country has gone through a crisis of this sort, there are changes. We will move forward, but we won’t be exactly the same.
And savvy investors know how to find the companies that are poised to capitalize on those changes.
This current downturn in the market is not like the dot-com bubble of 2000. It’s also not like the tech wreck of late 2018. The fundamentals for many technology stocks are as strong know as they were before the words social distancing forever entered our vocabulary.
That means investors could be on the verge of a historic buying opportunity. And these 10 stocks represent some of the companies that every investor should consider as they make a plan to have their portfolio recover from the effects of this recent sell-off.
More Investing Slideshows:
