DocuSign (DOCU) reported solid fiscal Q4 results with strong billings growth, but the case for its Intelligent Agreement Management product driving growth needs more clarity, RBC Capital Markets said in a Thursday note.
The company's outperformance in billings, which was driven by early renewals, along with increasing usage, were "encouraging data points of business stability," RBC analysts said. Revenue beat consensus estimates, with growth accelerating to 9% year over year, they noted.
However, while improvements continue in the company's core business, the case for "meaningful acceleration" rests on the growth of Intelligent Agreement Management, the analysts said. With deal volume in Europe and Latin America up 6x quarter over quarter, the outlook for the new product looks promising, but the analysts said they needed to see more proof points regarding its adoption among customers.
RBC maintained the company' stock rating of sector perform and price target of $90.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。