The Docusign Inc. software for obtain within the Apple App Store on a smartphone organized in Dobbs Ferry, New York, U.S., on Thursday, April 1, 2021.
Tiffany Hagler-Geard | Bloomberg | Getty Images
DocuSign shares rose about 14% on Friday after the Wall Street Journal reported the e-signature software program firm tapped advisors a few doable sale.
Talks are nonetheless preliminary, the Journal reported, citing individuals acquainted with the matter. A DocuSign consultant did not instantly reply to a request for touch upon the report.
After dropping virtually two-thirds of its worth final yr, DocuSign’s rebound this yr has been much less dramatic than a lot of its tech friends. The inventory is up 16% in 2023, whereas the Nasdaq Composite has gained 41%. The firm has a market cap of about $13 billion.
DocuSign went public in 2018 and noticed enterprise increase throughout the pandemic as demand soared for expertise that allowed individuals to work collectively on paperwork remotely. But development has slowed dramatically for the reason that economic system reopened, and competitors stays from Adobe and Dropbox.
A yr in the past, DocuSign employed former Google government Allan Thygesen to switch Dan Springer as CEO. Layoffs adopted days later.
The inventory plummeted 22% on March 10, after the corporate stated finance chief Cynthia Gaylor would go away and informed buyers to count on a single-digit quarterly income enhance, down from development above 50% throughout Covid.
WATCH: DocuSign CEO on Q3 earnings beat
Source: www.cnbc.com”