#7 - DocuSign (NASDAQ:DOCU)
The last stock on the list is a stock that perfectly fits the idea of a new bellwether stock. DocuSign (NASDAQ:DOCU)is a leader in the e-signature sector. The company was already helping consumers and businesses be more efficient in the way they got business done remotely.
And although the ability to handle things such as mortgage closings remotely is going to continue after the pandemic for convenience, not because of public health concerns. DocuSign is also expanding its cybersecurity services. This not only helps the company market its services to a wider range of businesses, but it will also help to make its services stickier to current customers.
DOCU stock is up 146% in the last 12 months. However, the stock is down 7% in 2021 as part of the tech sector recalibration. This helps give the stock room to grow. Analysts give the company a price target of $270.39. That’s a 30% gain from its current level.
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
- $79.11
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 7 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $63.40 (19.9% Downside)
The Covid-19 pandemic has made many stocks expensive. Many stocks are trading well above what any fundamental metric suggests. And many bellwether sectors such as airlines, hotels, and even restaurants have already received a nice boost in anticipation of increased revenue. While it’s fair to suggest that these stocks may have more room to grow, it’s equally fair to point out that the upside may be limited.
This makes it difficult to use classical metrics to find bellwether stocks. The stocks in this presentation give you the benefit of growth that isn’t already priced into their stocks.
Although they are not some of the names you might expect, they are stocks that are worth keeping your eye on. Because as the economy reopens, these are likely the stocks that will grow alongside it.
And in some cases, these stocks offer a nice dividend to support the shift to value stocks.
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