5 Companies Drawing Attention Following Earnings Reports

2. DocuSign, Inc. (NASDAQ:DOCU)

Number of Hedge Fund Holders: 45

Shares of DocuSign, Inc. (NASDAQ:DOCU) lost nearly 25 percent of their value in the pre-market trading session on Friday, June 10, 2022, after the electronic signature technology provider failed to meet earnings expectations for its fiscal first quarter.

DocuSign, Inc. (NASDAQ:DOCU) reported adjusted earnings of 38 cents per share, missing the consensus of 46 cents per share with a big margin. On the bright side, revenue for the quarter rose 25 percent versus last year to $588.7 million and exceeded expectations of $581.76 million.

Looking forward, DocuSign, Inc. (NASDAQ:DOCU) anticipates revenue in the range of $600 – $604 million for the current quarter and between $2.47 – $2.482 billion for the full year. The outlook is in line with the consensus of $601.71 million for the current quarter and $2.48 billion for its fiscal year 2023.

Speaking on the results, CEO Dan Springer said:

“We delivered solid first-quarter results, growing revenue by 25% year-over-year and adding nearly 67,000 new customers, bringing our total global customer base to 1.24 million. We also bolstered our leadership team with key new hires who, together with our existing team, are ensuring we’re well-positioned to grow and scale our business.”