Today’s spotlight for unusual stock options volume was always going to be DocuSign (DOCU). On Friday, shares of the cloud-based software provider soared almost 28%. Despite DOCU stock carrying a lackluster Hold rating among Wall Street analysts, the underlying enterprise — which is known for its e-signature services — blew past expectations for the third quarter.
Results came in the preceding afternoon, with DocuSign generating revenue of $754.8 million, representing 7.8% year-over-year growth. This tally significantly exceeded analysts’ expectations of $745.3 million. On the bottom line, the company posted adjusted earnings per share of 90 cents, also beating the consensus view of 87 cents.
