#5 - DocuSign (NASDAQ:DOCU)
DocuSign (NASDAQ:DOCU) is another company that may find itself in the right place at the right time. Many consumers and businesses were already using DocuSign to securely scan and email important documents. That usage will only increase not only during this period of social distancing, but into the future.
You can also say that DocuSign is a beneficiary of perfect timing. The company posted a strong revenue increase of 39% for its 2020 fiscal year that ended on January 31, 2020. The company also posted positive forward guidance of a 31% revenue gain for fiscal 2021. DocuSign is on pace to log $1 billion in revenue, putting it in elite company among software-as-a-service (SaaS) companies.
The two catalysts that DocuSign believes can carry them through this slowdown and beyond are their efficiency and ability to set-up businesses remotely. If the economy does tip into a recession, DocuSign feels that the return on investment (ROI) that businesses receive will be obvious. And, as more companies resist the idea of having technicians come on site, DocuSign’s CEO Dan Springer says that, with the exception of some of its largest enterprise clients, the company can do most installation remotely.
Despite the sell-off in the market, DocuSign stock is still up about 5% for 2020.
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
- $80.18
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 7 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $65.80 (17.9% Downside)
