<div id="readability-page-1"><p>03:30 PM EST, 12/05/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:</p><p>We trim our 12-month target price by $15 to $75, applying an EV/sales multiple of 4.2x to our FY 27 (Jan.) estimate. We raise our FY 26 and FY 27 EPS estimates by $0.21 to $3.78 and $4.11, respectively. DOCU experienced one of its highest growth quarters in the past two years, with significant increases in both revenue and billings, attributed to ongoing customer investment in core products and the Intelligent Agreement Management platform. The Y/Y comparison for both revenue and billings is challenging due to last year's higher volume of early renewals, particularly in the second half of the year. Revenue growth also faces tough comparisons against the prior year's strong performance due to product-led growth initiatives, including high volumes of digital customers adding envelope capacity. We note companies across the customer base continue to scrutinize their spend, which could impact future purchasing decisions and lead to cautious budgeting, especially among those in financial roles.</p> <p>MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</p></div>

DOCU

<p>CFRA maintains a Hold opinion on Docusign, Inc., lowering the 12-month target price to $75. FY 26 and FY 27 EPS estimates are raised to $3.78 and $4.11, respectively. Despite high growth in revenue and billings, future purchasing decisions may be impacted by cautious budgeting among customers, especially in financial roles.</p>

Research Alert: CFRA Maintains Hold Opinion On Shares Of Docusign, Inc.