DOCU - Why DocuSign Stock Popped by Almost 5% Today
2024-03-08 19:15:55 ET
Next-generation document verification specialist DocuSign (NASDAQ: DOCU) recorded convincing beats on both the top and bottom lines for its latest reported quarter. Investors rewarded this feat by pushing the company's share price up by nearly 5% in Friday trading, a rate that vastly overshadowed the S&P 500 index's 0.7% decline.
For its fourth quarter of fiscal 2024, DocuSign earned just over $712 million in revenue, representing 8% growth over the same period the previous fiscal year. Pundits tracking the stock were collectively modeling only $698 million and change for the key line item.
That was on the back of total billings that rose at a 13% year-over-year pace to land at slightly over $833 million.
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Why DocuSign Stock Popped by Almost 5% Today