Citizens reiterates Docusign stock rating on federal business strength

Citizens analyst Patrick Walravens has maintained a Market Outperform rating and a $86.00 price target for Docusign Inc. (NASDAQ:DOCU). This target is in line with the firm's Fair Value estimate of $83.28, indicating the stock may be undervalued at its current price of $59.82. The analyst highlighted Docusign's strong federal business, which secured two awards exceeding $1 million in the second fiscal quarter of fiscal year 2027, including a $3.3 million award from the Department of Homeland Security and a $2.3 million award from the General Services Administration.

The company's impressive gross profit margins of nearly 80% and revenue of $3.29 billion over the last twelve months further support the rating.

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