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Despite challenging market conditions and a pullback in shares, DocuSign (DOCU) remains on the radar of some bullish analysts, anchored by its Street-high price target of $124 set by Citizens analyst Patrick Walravens, which implies 171.2% upside from recent share prices.
Analysts at Citizens, which maintains a “Market Outperform” rating on DOCU, view DocuSign as a compelling capital appreciation opportunity, citing its dominant e-signature franchise and its strong total addressable market as compelling long-term growth drivers.