DocuSign shares rose 6% after upbeat quarterly figures

DocuSign (DOCU.US) stock rose more than 6% after the electronic-documents company posted better-than-expected results for its fiscal third quarter. DocuSign earned 22 cents per share, well above analysts’ expectations of 13 cents per share. Revenue of $382.9 million soared 53% on year over year basis and also beat market forecast of $361.2 million. Company continues to attract new customers and issued upbeat full-year guidance. For the current quarter ending in January, DocuSign forecast revenue of $406 million at its midpoint of guidance. Analysts had projected revenue of $387.3 million.

DocuSign (DOCU.US) shares gained more than 205% year to date. Today stock launched session with a bullish price gap and managed to break above the upper limit of the recent trading range at $247.92. However buyers failed to uphold momentum and price pulled back from next resistance at $255.46. Currently stock is re-testing the aforementioned level of $247.92. Should a break below occurs, then downward move towards local support at $234.30 may accelerate. Source: xStation5

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