Thanks for bringing it up, Jason. I had taken a position back in June: https://discussion.fool.com/thanks-for-the-write-up-kyle-on-the-… but I exited in July after it went from $140 to $200+ in a month on no news (I bought it when it went down after earnings, but then it reversed course and went straight up). At the time I sold, I said I don’t think there’s much upside at this point. It’s a $41 billion e-signature company.
Well, now I feel I was wrong. Let’s look back to the numbers I cited when I bought in June. I’ll add the most recent quarter:
Percentage Revenue Growth YoY:
37 33 37 34
37 41 40 38
39 45
Percentage Billings Growth YoY:
33 32 40 31
27 47 36 40
59 61
Here’s how many customers they’ve added the last several quarters:
Oct 2018: 25k
Jan 2019: 23k
Apr 2019: 31k
Jul 2019: 29k
Oct 2019: 25k
Jan 2020: 27k
Apr 2020: 68k
Jul 2020: 88k
I think it’s clear now, this wasn’t a one quarter bump. This is a very extreme level-shift. No one is going back to paper for signing documents. Times are changing. I would like to change my tune as well. I now very much do think there’s upside remaining for DOCU.
Bear
PS - Docusign has a lot of other things going on as well, besides just esignatures.
PPS - If you want even more numbers, check out this post from stocknovice: https://discussion.fool.com/docu-q2-34609983.aspx