DocuSign stock popped in extended trading Thursday as April-quarter financial results blew past Wall Street targets while its revenue forecast came in above views.
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First-quarter earnings for San Francisco-based DocuSign came in at 44 cents per adjusted share. Revenue rose 58% to $469.1 million, including acquisitions, the company said.
A year earlier, DocuSign (DOCU) earned 12 cents a share on sales of $297 million.
DocuSign stock analysts expected the company to report earnings of 28 cents on sales of $437.6 million. Billings jumped 54% to $527.4 million, topping estimates for 36% growth.
DocuSign stock surged 6% to 206.45 in after-hours trading on the stock market today. The company’s software automates the filing of contracts over the internet and certifies electronic signatures.
DocuSign Stock: Revenue Outlook Above Views
For the current quarter ending in July, DocuSign forecast revenue of $482 million at the midpoint of its outlook. Analysts had projected revenue of $474.2 million.
One question for DocuSign is whether customer growth will slow as the coronavirus pandemic eases and business travel normalizes.
Heading into the DocuSign earnings report, the software stock owned a Relative Strength Rating of only 14 out of a best possible 99, according to IBD Stock Checkup.
DocuSign stock needs to form a new base to become actionable.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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