Docusign, long a leader in electronic signatures, stepped up its game by adding artificial intelligence to analyze agreements, sign documents electronically, and automate workflows. It calls its upgraded product Docusign Intelligent Agreement Management, or Docusign IAM.
On Tuesday, Docusign stock got a huge increase, popping 13 points to an 82 Relative Strength (RS) Rating, up from 69 the day before. It's a notable jump because market research shows that the best-performing stocks typically have an RS Rating over 80 as they launch their biggest climbs. Docusign just joined that club.
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Docusign Stock Goes For A Roller Coaster Ride
Docusign reported a 10% increase in earnings last quarter to 90 cents per share on an 8% hike in revenue to $763.7 million. The prior three quarters its EPS grew 35% 14% and 13%. On June 5 Docusign reported first quarter results. Its stock fell 19% the next day as Docusign reported its smallest EPS and revenue gains in a year. The day after that, though, its stock gained back part of the loss, rising 4.4%
On Tuesday afternoon Docusign traded above 75, down about 1.3% for the day.
Among its other key ratings Docusign has an exceptional 92 EPS Rating out of 99 and a 90 Composite Rating. Its B- Accumulation/Distribution Rating shows that mutual funds, ETFs and the like are buying more shares than selling.
Docusign holds the No. 22 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Cloudflare and Freshworks are among the top five highly rated stocks in the group.
IBD's unique Relative Strength Rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
Please follow James DeTar on Twitter @JimDeTar
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