DOCU - 1 Fantastic Growth Stock Down 80% Investors Can Buy Hand Over Fist in 2024
2024-01-24 08:15:00 ET
A darling of the stock market during coronavirus lockdowns, leading digital-signature and contract-management player DocuSign (NASDAQ: DOCU) has seen its shares drop by nearly 80% from their all-time high of $310 in September 2021.
Much of this drawdown can be attributed to very slow top-line growth amid an elongated sales cycle and increased competition from bigger players such as Adobe and Dropbox as well as new entrants in the digital-signature market.
Recently, however, the stock has been on an upswing, climbing nearly 62% from its low of $38 in this past October amid rumors of a potential buyout by a private equity firm. According to a Reuters report, Bain Capital and Hellman & Friedman may be among the final bidders in an auction for DocuSign.
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1 Fantastic Growth Stock Down 80% Investors Can Buy Hand Over Fist in 2024