DocumentSign (NASDAQ: DOCU) shares are trading in the red Thursday, on track to mount a six-day winning spell. The stock fell 3.53% to $57.31.
DOCU has grown 3.24% over the past year and 12.60% over the past month. Since the beginning of the year, the stock has seen a drop of 3.70%.
Looking at Seeking Alpha’s Quant ratings, this California-based company has a Strong Buy rating with a score of 4.80 out of 5.
When it comes to Wall Street analysis, 17 out of 26 analysts recommend a Hold, 4 rate it a Strong Buy, 2 rate it a Buy, 2 rate it a Strong Sell, and 1 rate it a Sell.
Seeking Alpha analysts have a buy rating on the company.
DOCU stock has surged since reporting fourth-quarter results that were well above Street expectations.
Despite the good results, some believe that competition in the sector is fierce. SA Lighting Rock Research analyst says: “DocuSign has seen explosive growth during the pandemic, but is now facing competition in the e-signature market.
I predict that competition in the electronic signature market will intensify in the near future. DocuSign has the primary advantage, however its growth will depend on how quickly they can penetrate more enterprise customers, as well as expand their product offerings beyond e-signature.”