DocuSign skyrockets 24% after smashing sales forecasts

Shares of DocuSign surged as much as 24% on Friday after the company posted revenue that beat Wall Street expectations.

The company reported total revenue of $235.6 million in the second quarter, up from 41% during the same period last year.

Wedbush analyst Daniel Ives upgraded the stock to “outperform” from “neutral” and raised his price target to $65 from $48. Ives cited DocuSign's growing revenues and total billings as the drivers for the upgrade.

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Shares of DocuSign skyrocketed more than 20% on Friday after the company posted second-quarter revenue that surpassed analyst estimates.

Here are the key numbers from DocuSign's second quarter earnings report:

Revenue: $235.61 million, compared to $220 million expected by analysts

Earnings per share: (-$0.39), compared to (-$0.30) predicted by analysts

Net income: $1.99 million, versus $6 million estimated by analysts.

DocuSign, which offers a variety of cloud-based solutions for signing and managing agreements and contracts, posted a larger loss than Wall Street analysts expected for the second quarter. The company's net loss appeared to be offset by revenue growth of 40% from the same period last year, and a 47% jump in total billings.

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“Our second quarter performance reflects our clear leadership position in e-signature and increasing adoption of our broader Agreement Cloud offering,” Chief Executive Officer Dan Springer said in an earnings release. We added 29,000 new customers onto the platform, bringing our total to 537,000 worldwide.

Subscription revenue accounted for $220 million of DocuSign's sales during the second quarter, a 39% increase from last year. Professional services and other revenue increase 72% to $14.8 million.

Wedbush analyst Daniel Ives upgraded the company's rating to 'Outperform' from 'Neutral' and increased his price target to $65 from $48. Ives cited DocuSign's revenue and billings growth as the main reason for the upgrade.

“This company is in the early innings of a massive green field growth opportunity set to play out over the next 12 to 18 months,” Ives said in a note to clients on Friday.

DocuSign is up more than 34% year-to-date.

周五公司发布收入超过华尔街预期后，DocuSign股价周五飙升24％。 该公司第二季度的总收入为2.356亿美元，高于去年同期的41％。 ▲Wedbush分析师丹尼尔·艾夫斯（Daniel Ives）将该股评级从“中性”调升至“跑赢大盘”，并将其目标股价从48美元上调至65美元。 Ives将DocuSign不断增长的收入和总账单作为升级的驱动因素。 观看DocuSign的交易活动。周五，DocuSign的股票暴涨超过20％，此前该公司公布第二季度收入超过分析师预期。 以下是DocuSign第二季度收益报告中的关键数字：收入：2.3561亿美元，而分析师预计为2.2亿美元每股收益：（ - 0.39美元），而（ - $ 0.30分析师预测：净收入：199万美元，而分析师估计为600万美元。 DocuSign为签署和管理协议和合同提供了各种基于云的解决方案，其损失大于华尔街分析师对第二季度的预期。该公司的净亏损似乎被去年同期收入增长40％所抵消，总账单增长47％。 ▲Markets Insider正在寻找一个千禧一代的投资者小组。如果您在市场上活跃，请点击此处注册。“我们的第二季度业绩反映了我们在电子签名方面的明确领导地位以及我们更广泛的协议云产品的采用，”首席执行官Dan Springer说在收益发布中。 “我们在平台上增加了29,000个新客户，使我们的全球总数增加到537,000个。第二季度，DocuSign的销售额占2.2亿美元，比去年增长39％。专业服务和其他收入增加72 Wedbush分析师Daniel Ives将公司评级从”中性“上调至”跑赢大盘“并提高其目标价格48美元起$ 65起。 Ives将DocuSign的收入和账单增长列为升级的主要原因。 ”这家公司正处于未来12到18个月大规模绿色领域增长机会的早期阶段，Ives周五在给客户的一份报告中表示。 今年以来，DocuSign的市场份额增长了34％以上。