The Docusign Inc. utility for obtain within the Apple App Retailer on a smartphone organized in Dobbs Ferry, New York, U.S., on Thursday, April 1, 2021.
Tiffany Hagler-Geard | Bloomberg | Getty Photos
DocuSign shares rose about 14% on Friday after the Wall Avenue Journal reported the e-signature software program firm tapped advisors a few doable sale.
Talks are nonetheless preliminary, the Journal reported, citing folks acquainted with the matter. A DocuSign consultant did not instantly reply to a request for touch upon the report.
After shedding nearly two-thirds of its worth final 12 months, DocuSign’s rebound this 12 months has been much less dramatic than lots of its tech friends. The inventory is up 16% in 2023, whereas the Nasdaq Composite has gained 41%. The corporate has a market cap of about $13 billion.
DocuSign went public in 2018 and noticed enterprise growth through the pandemic as demand soared for expertise that allowed folks to work collectively on paperwork remotely. However progress has slowed dramatically for the reason that financial system reopened, and competitors stays from Adobe and Dropbox.
A 12 months in the past, DocuSign employed former Google govt 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 traders to count on a single-digit quarterly income enhance, down from progress above 50% throughout Covid.
WATCH: DocuSign CEO on Q3 earnings beat
