DocuSign’s Promising Earnings No Match for Sinking Tech Market By

  • 10 months ago
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By Christiana Sciaudone — DocuSign sank 12.9% on Thursday along with the whole tech sector, ahead of its earnings report after the close.

If recent earnings results are any indication, DocuSign Inc (NASDAQ:) should blast through estimates.

That’s because it’s one of the companies that has gotten a boost from stay-at-home workers. The most notable results came from Zoom Video Communications Inc (NASDAQ:) earlier this week. Shares soared more than 40% after the remote video-conferencing company reported earnings per share of 92 cents versus the estimated 45 cents, on sales of $663.52 million compared to the expected $500.16 million.

Shares of DocuSign are up 211% since the start of 2020.

Other companies that have benefited from the world staying home include Chegg Inc (NYSE:), Crowdstrike Holdings Inc (NASDAQ:) and Akamai Technologies Inc (NASDAQ:), which all beat estimates.

DocuSign is expected to report earnings per share of 8 cents on sales of $318.57 million, according to analysts tracked by Shares have 10 buy ratings, five holds and no sells.

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