DocuSign reported $0.65 adjusted earnings per share compared to an estimated $0.52, while the revenue of $659.6 million was a lot better than the expected $641 million. Still, the numbers didn’t exactly thrill the investors, who expected bigger growth compared to the last year.

 “When you look at the macro environment, it certainly hasn’t gotten better, and you could probably tend to say we’ve gotten a little bit worse,” DocuSign’s CFO Cynthia Gaylor said during the earnings call.

DocuSign stock closed at $64.44 per share on Thursday before starting to slide during after-hours trading and dropping to $59.21. The Friday morning saw an even bigger fall, continuing through the day and closing at $49.69. DocuSign shares are 12.44% down year-to-date.

There are several other factors that are pushing the DocuSign stock on a downward trajectory. Besides the plummeting demand, there is also an issue of competition, with several big players entering the market, including Microsoft. It also doesn’t help that Gaylor is leaving the company later this year.

The post DocuSign Shares Slide 23% Despite Strong Earnings appeared first on theprimarymarket.com.

Announcing the results of its fiscal quarter, which wrapped up on April 30th, DocuSign revealed 25 percent year-over-year growth in revenue as well as 67,000 new customers. The reported revenue stood at $588.7 million compared to the $581.8 million expected by analysts.

However, DocuSign missed wide on the earnings per share. The company reported 38 cents per share, while analysts expected 46 cents per share. This caused the investors to bail on the stock, which shouldn’t be surprising considering a recent focus shift to profitability rather than growth.

DocuSign experienced rapid growth in early 2020 as businesses turned to digital platforms due to the coronavirus pandemic. The company continued to perform well throughout 2021, hitting $310.05 per share in September. However, the business has been on the decline since then, and the company is now trying to figure out a way to position itself on the market in a more sustainable way.

The post DocuSign Shares Tumble Following Earnings Miss in First Quarter appeared first on theprimarymarket.com.

DocuSign reported $0.65 adjusted earnings per share compared to an estimated $0.52, while the revenue of $659.6 million was a lot better than the expected $641 million. Still, the numbers didn’t exactly thrill the investors, who expected bigger growth compared to the last year.

 “When you look at the macro environment, it certainly hasn’t gotten better, and you could probably tend to say we’ve gotten a little bit worse,” DocuSign’s CFO Cynthia Gaylor said during the earnings call.

DocuSign stock closed at $64.44 per share on Thursday before starting to slide during after-hours trading and dropping to $59.21. The Friday morning saw an even bigger fall, continuing through the day and closing at $49.69. DocuSign shares are 12.44% down year-to-date.

There are several other factors that are pushing the DocuSign stock on a downward trajectory. Besides the plummeting demand, there is also an issue of competition, with several big players entering the market, including Microsoft. It also doesn’t help that Gaylor is leaving the company later this year.

The post DocuSign Shares Slide 23% Despite Strong Earnings appeared first on theprimarymarket.com.

Announcing the results of its fiscal quarter, which wrapped up on April 30th, DocuSign revealed 25 percent year-over-year growth in revenue as well as 67,000 new customers. The reported revenue stood at $588.7 million compared to the $581.8 million expected by analysts.

However, DocuSign missed wide on the earnings per share. The company reported 38 cents per share, while analysts expected 46 cents per share. This caused the investors to bail on the stock, which shouldn’t be surprising considering a recent focus shift to profitability rather than growth.

DocuSign experienced rapid growth in early 2020 as businesses turned to digital platforms due to the coronavirus pandemic. The company continued to perform well throughout 2021, hitting $310.05 per share in September. However, the business has been on the decline since then, and the company is now trying to figure out a way to position itself on the market in a more sustainable way.

The post DocuSign Shares Tumble Following Earnings Miss in First Quarter appeared first on theprimarymarket.com.