DOCU investors were likely spooked this aftermarket by Wall Street Journal's report: "The e-signature company warned of a worsening macroeconomic backdrop, and analysts raised concerns about stepped-up competition." For more coverage, read the full article here. On the back of this news, DocuSign sank -21.58% to a price of $50.51. Are the markets overreacting?
DocuSign, Inc. provides cloud-based software in the United States and internationally. The company belongs to the Technology sector, which has an average price to earnings (P/E) ratio of 27.16 and an average price to book (P/B) ratio of 6.23. In contrast, DocuSign has a trailing 12 month P/E ratio of -74.28 and a P/B ratio of 21.1.
DocuSign has moved -31.39% over the last year compared to -6.8% for the S&P 500 -- a difference of -24.59%. DocuSign has a 52 week high of $113.67 and a 52 week low of $39.57. At today's price of $50.51 per share, DocuSign is -24.39% away from its target price of $66.8, and on average, analysts give the stock a rating of hold. 5% of the company's shares are linked to short positions, and 79% of the shares are owned by institutional investors.