Docusign Inc. (DOCU) PT Raised to $59 at Baird

Baird analyst William Power raised the price target on Docusign Inc. (NASDAQ: DOCU) to $59.00 (from $55.00) while maintaining a Neutral rating.

The analyst commented: "Maintain Neutral rating. Yesterday afternoon DOCU reported slight upside to FQ2 revenue, operating margins and billings, with full-year revenue guidance raised by more than the
FQ2 beat. Importantly, the company noted increasing deal counts and bookings month-over-month, with August being larger than June and July combined on those fronts. While we are constructive on the improving trends, IAM is very early, and the modest billings growth forecast raises medium-term growth questions, which we believe could remain an overhang."

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