DocuSign is soaring: here are the best places to buy DOCU stock

One of last week’s hottest stocks was DocuSign (NASDAQ: DOCU), and now this trend looks set to continue after another day of substantial gains.

Simply scroll down to find out the best places to buy DocuSign shares online, why the company is performing so well of late, and what the future could hold for the tech player.

Where to buy DocuSign stock right now

If you want to invest in DocuSign – or any other stock for that matter – your best option is to sign up to a reliable stockbroker, fund your account with fiat money, and get involved.

However, not all brokers are equal. Some have far better interfaces, user support and fee structures. To save you some time, our team of analysts have been hard at work testing out hundreds of the top platforms, and they have concluded the top options below are the best places to buy DOCU stock:

1) eToro

Etoro is one of the world’s most popular online broker platforms. With low fees, innovative features and a user-friendly interface, it is an excellent choice to get involved with DOCU stock.

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2) Plus500

If conventional share dealing is not what you are looking for, and you would like to experience the flexibility and low cost of CFD trading, Plus500 could be the platform for you.

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If you aren’t quite satisfied with either of the options above, don’t worry, we can still help. Check out our comparison of the top stock trading platforms and see if they can fulfil your investing needs.

Moreover, if stock investing is new to you, and you need help getting started, learn how to buy DocuSign stock by reading our beginners’ guide.

What is DocuSign?

It is one of the world’s most significant e-signature service providers. Through its DocuSign Agreement Cloud, it provides services to 1 million customers and hundreds of millions of users across in excess of 180 countries. With upwards of 20 locations and 6,000 employees, DOCU is a tech colossus that generates nearly $1 billion per annum.

The company was incorporated in 2003 and now operates out of San Francisco, California. It went public via an IPO on the NASDAQ back in April 2018, and since this time, the company’s stock has followed a steady, upwards trend. Now, in recent months, and especially in recent days, this trend is accelerating.

Should I buy DOCU stock right now?

If you conduct the necessary due diligence and determine that the company’s business model, management team and growth blueprint are compelling, it could be a strong candidate for investment. With a market cap below $50 billion, DOCU still has plenty of room to grow, and with growth at record levels both in terms of revenue and cash generation, now could be the time to buy.

However, make sure you don’t get overexcited. Never rush into an investment or expect guaranteed success. When investing, emotion and impulse are enemies that you need to conquer. Remain objective and patient, and you have an increased likelihood of timing the market and experiencing success.

Will DocuSign make me rich?

This is unlikely, though this is the case of practically any low-risk investment. For high rewards, the potential risks are equally elevated. DocuSign is a stable growth stock rather than a risky and speculative opportunity, so while it may not make you rich, it could provide a strong and consistent yield on your investment.

Why is DOCU’s share price rising?

Because of the market reaction to its strong Q1 financial results. The impressive figures are as follows:

• Revenue up 58% year over year, now standing at $469 million
• Adjusted earnings per share up by 267%, now standing at $0.44
• Operating cash flow up by 129%, now standing at $136 million
• Free cash flow up by 275% to $123 million

These figures have far outperformed the expectations of most analysts, as DocuSign provided a clear indication of its cash-generating business model.

DOCU price prediction

The Wall Street consensus in terms of a DocuSign price target is a 12-month median of $275, though given institutions have already underestimated the company, Invezz would not be surprised to see this value be exceeded.

While the company is likely to grow this year, we expect there to be plenty of ups and downs, so don’t expect a permanently smooth path to growth.

Social media reacts to $DOCU

Exceptional Docusign Results: $DOCU

Cohorts firm
Land / expand motion at record rates
1m customers / 136k enterprise

GAAP breakeven and COVID entrenched their lead. pic.twitter.com/9dG47u624O

— Sean D. Emory (@_SeanDavid) June 3, 2021

$DOCU is 'in a sweet spot to continue to receive significant customer spending,' one analyst says.https://t.co/DTCrWyGIXa

— TheStreet (@TheStreet) June 4, 2021

When people argued that $DOCU was a COVID play I provided this simple slide.

This company was growing at a similar rate pre-covid 👇🏻 https://t.co/3tObV4sLYZ pic.twitter.com/SIX45d51U0

— Leandro (@Invesquotes) June 3, 2021

$DOCU huge move off earnings.. over 235 breaks the range.. may need a day or two.. on watchhttps://t.co/mG3Dv4Gzl0

— Options Mike (@OptionsMike) June 6, 2021

For all the latest information about DOCU and other trending stocks, check out our news.