Follow on Google News News By Tag Industry News News By Location Country(s) Industry News
Follow on Google News | ![]() Is Now a Good Time to Buy Shares in DocuSign?Just when it seemed like DocuSign's shares couldn't get any worse, it did. Following the release of the business's fiscal fourth-quarter results
Despite the stocks steep drop on Friday, the company's fiscal fourth-quarter earnings were actually fairly excellent. During this time, DocuSign's revenue increased by 35% year over year, reaching $581 million. This was more than the average expert expectation of $561 million in sales. The company's non-GAAP (adjusted) profits per share of $0.48 increased significantly from $0.37 in the previous quarter. Free cash flow increased as well, rising from $44 million to $70.3 million in the previous quarter. DocuSign's business and development prospects appear to be robust, based on management's upbeat comments in its results announcement and the company's plan to launch a share repurchase program. "Digital transformation and the need to agree from anywhere is a key priority for companies around the world as we approach into Fiscal 2023," DocuSign CEO Dan Springer stated in the company's fiscal fourth-quarter results statement. "People aren't returning to paper when they return to the workplace." DocuSign's board of directors approved up to $200 million in stock repurchases as part of the company's new buyback program. During the company's earnings call, DocuSign Chief Financial Officer Cynthia Gaylor noted, "This initiative underlines our confidence in the solid fundamentals of our business and allows us to flexibly utilize our balance sheet in order to effectively provide returns to our shareholders." For more latest report in US Stock Market you may also visit us at Blackwood Investment Limited through our website https://blackwood- End
|
|