Shares of DocuSign soared nearly 10% after reporting Q3 results, extending a recent win streak ever since the company warned of sales execution issues in Q1.
Revenue growth of 35% y/y beat Wall Street's estimates by three points, while EPS came in ahead of consensus as well.
However, DocuSign's billings growth slowed down to 36% y/y - somewhat of a red flag as we approach FY21.
DocuSign shares have rallied more than 30% since last quarter, reverting the stock to the double-digit forward revenue valuation and likely capping further upside.
At various points in the year, e-signature leader DocuSign (DOCU) has been both one of the most loved and one of the most hated stocks in the software sector. Earlier this year, DocuSign