Company
DOCUSIGN INC
-24.24%
closure:0
opening:66.5
High:69.83
low:64.31
cycle:—
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(NYSE: DOCU), which created a system for remote digital signatures, reports that it earned $ 0.38 in the first quarter of the year, a decrease of 14% last year and a miss of the expected $ 0.46. Revenue grew by 25% to 588.7 million. A year ago it reported earnings of $ 0.44 per share and revenue of $ 469.1 million.
The company is now down 25% in Wall Street trading. Most of the reason for the drop is lowering the forecast for the rest of the year by $ 185 million.
“The company’s management is now expecting an increase in revenues of between 6% and 7% last year,” said RBC Capital analyst analyst Rishi Jaloria. “We note that this is the third consecutive report in which the company expects that in the next report it will disappoint in the financial results, it disappoints us,” he concluded.
Demand for Docosine’s products increased when the Corona plague began, but now businesses are coming back face-to-face as they did before the plague.
“DocSign delivered another disappointing quarter and lowered its forecast by a third, overshadowing the fact that the company has surpassed its revenue forecast for the current quarter,” Wedbush investment house analyst Daniel Ives said.
In addition to the field of digital signatures, DocSign automates the transfer of documents online. Since the beginning of the year, the company has fallen by 43%.
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