Citizens JMP reaffirms Docusign stock price target at $124

On Tuesday, Citizens JMP analysts reaffirmed a Market Outperform rating for Docusign Inc. (NASDAQ: DOCU), maintaining their price target at $124. With the stock currently trading at $89.20 and showing a remarkable 66.92% return over the past year, analysts highlighted Docusign’s prominent position in the e-signature market, boasting an impressive 1.7 million customers.

Docusign’s potential for long-term capital appreciation was emphasized, particularly through its evolving Identity and Access Management (IAM) platform. With annual revenue of $2.98 billion and industry-leading gross profit margins of 79.25%, the company recently introduced eight new features at its Momentum 2025 user conference, underscoring its commitment to advancing workflow automation.

The analysts also noted Docusign’s substantial addressable market, estimated at $50 billion. This includes $25 billion from e-signature services and another $25 billion from contract lifecycle management.

Leadership at Docusign was praised by Citizens JMP analysts, who commended the contributions of key executives including Allan Thygesen, COO Anwar Akram, CFO Blake Grayson, CRO Paula Hansen, and Head of Investor Relations Matt Sonefeldt.

Docusign’s strong market position and strategic initiatives continue to support Citizens JMP’s positive outlook for the company’s stock performance. According to InvestingPro analysis, the stock appears undervalued with a GREAT financial health score, suggesting potential upside. Discover 10+ additional exclusive insights and detailed financial metrics with an InvestingPro subscription.

In other recent news, Docusign has announced the appointment of Michael Adams as its new Chief Information Security Officer. Adams, who previously held the same role at Zoom (NASDAQ:ZM), brings extensive experience in security leadership to the company. This move aligns with Docusign’s focus on enhancing its security measures as it continues to expand globally. Additionally, Docusign revealed the immediate resignation of Daniel Springer from its Board of Directors, stating that the decision was personal and not due to any disagreements with the company.

In terms of analyst activity, JMP Securities has maintained a Market Outperform rating for Docusign, with a price target of $124, citing the company’s strong position in the e-signature market and growth potential in its Identity and Access Management solutions. UBS, however, has adjusted its price target to $85, maintaining a Neutral rating due to macroeconomic factors affecting customer budgets. Both firms have noted the company’s substantial addressable market, estimated at $50 billion, as a significant opportunity for growth. These developments highlight Docusign’s ongoing strategic adjustments and market positioning efforts.

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