#4 - DocuSign (NASDAQ:DOCU)
Another emerging trend is remote document signing. There are certain trends that make you wonder why this was ever not the normal way of doing things. That’s the case with DocuSign (NASDAQ:DOCU). Many things like mortgage documents, lease forms, health forms, and more that often required a face-to-face meeting and several minutes of tedious signing can now be handled quickly, and more importantly remotely.
And the simple reality is that we’re not going backwards. Once you’ve used the technology, you realize how simple it is and you won’t see any reason to go back to the old way. And DocuSign is not just a trend that emerged since the novel coronavirus arrived. The current generations that will be leading DocuSign’s growth are looking to have a big social media presence while avoiding actual human contact as much as possible. That’s terrible for society. It’s great for DocuSign.
And don’t be too concerned about DocuSign not being profitable yet. The company’s sales grew by 14% in the last quarter. This didn’t yet factor in the effect of the novel coronavirus. The company is also generating positive free cash flow. Analysts are projecting the company’s profitability may exceed 58% annually over the next five years.
About DocuSign
DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.
Read More - Current Price
- $54.74
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 7 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $60.25 (10.1% Upside)
