Electronic signature company DocuSign (NASDAQ: DOCU) will be announcing earnings results this Thursday afternoon. Here’s what you need to know.
DocuSign beat analysts’ revenue expectations last quarter, reporting revenues of $830.2 million, up 8.7% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a narrow beat of analysts’ annual recurring revenue estimates.
Is DocuSign a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting DocuSign’s revenue to grow 8.4% year on year, in line with the 8.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. DocuSign has a history of exceeding Wall Street’s expectations.
Looking at DocuSign’s peers in the productivity software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Dropbox posted flat year-on-year revenue, beating analysts’ expectations by 0.7%, and Box reported revenues up 9.2%, topping estimates by 0.6%. Dropbox’s stock price was unchanged after the resultswhile Box was up 1.2%.
Read our full analysis of Dropbox’s results here and Box’s results here.
There has been positive sentiment among investors in the productivity software segment, with share prices up 11.1% on average over the last month. DocuSign is up 17.2% during the same time and is heading into earnings with an average analyst price target of $57.88 (compared to the current share price of $64.61).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
