Analyst Consensus ?
ConsensusHold28 ratings
Bullish828.6%
Neutral1864.3%
Bearish27.1%
DocuSign, Inc. · DOCU · FY2026 Q4 · Calendar Q1 2026
DocuSign: IAM adoption drives growth as FY2027 guidance holds
DocuSign's latest call supports a constructive but conditional view: IAM adoption, improving retention, and disciplined cash generation are supporting growth, but the longer-term case depends on scaling IAM, proving renewal durability, and managing pricing, infrastructure, and AI-provider risks.
Reported After market closeNASDAQTechnology
$13.32B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.01
Consensus $0.95
EPS surprise
+6.3%
Reported versus consensus
Reported revenue
$836.9M
Consensus $827.3M
Revenue surprise
+1.2%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+2.9%
Event window
SPY move
-1.4%
Same window
Abnormal move
+4.3%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
-5.8%
Up to 20 sessions
DOCUSPY benchmark
Ask FN2 about DOCU FY2026 Q4
Transcript, numbers and history already loaded
Why did DOCU rise 2.9% after beating EPS estimates in FY2026 Q4?What changed in DOCU's guidance and outlook in FY2026 Q4?Give me the bull and bear case for DOCU after FY2026 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current quarter added evidence of IAM scale and operating leverage: IAM exceeded $350 million in ARR, billings topped $1 billion, non-GAAP operating margin surpassed 30%, and the company introduced consumption-based pricing plans for Q1 FY2027. Guidance was maintained rather than raised.
Guidance delta
Management maintained FY2027 guidance, including approximately 8.5% ARR growth and operating margins around 30%.
Key takeaways
- Revenue and ARR grew 8% year over year, while billings exceeded $1 billion for the first time.
- IAM generated more than $350 million in ARR within 18 months and is expected to reach 18% of ARR by FY2027.
- Non-GAAP operating margin exceeded 30% and free cash flow surpassed $1 billion.
Management priorities
- Scale IAM through a top-down C-suite sales motion.
- Add IAM SKUs for HR and procurement and launch consumption-based pricing in Q1 FY2027.
- Deepen integrations with Anthropic, OpenAI, Google Gemini, and Salesforce while investing in enterprise AI, federal opportunities, and security.
Follow DOCU with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$69.74Previous close
$45Low
$71.93Average
$95High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 2, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Sep 4, 2026 |
| UBS | Neutral | Neutral | Maintain | Sep 4, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Sep 4, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Sep 4, 2026 |
| Needham | Hold | Hold | Maintain | Sep 4, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Sep 4, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Sep 4, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Sep 4, 2026 |
| BTIG | Buy | Buy | Maintain | Sep 4, 2026 |
| Baird | Neutral | Neutral | Maintain | Sep 4, 2026 |
| B of A Securities | Underperform | Underperform | Maintain | Sep 4, 2026 |
| Wedbush | Neutral | Neutral | Maintain | Jun 5, 2026 |
| Jefferies | Hold | Hold | Maintain | Jun 5, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Mar 18, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Dec 5, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Oct 3, 2025 |
| Argus Research | Hold | Hold | Maintain | Sep 8, 2025 |
| William Blair | Outperform | Market Perform | Upgrade | Mar 17, 2025 |
| Citizens Capital Markets | Market Outperform | Market Outperform | Maintain | Mar 14, 2025 |
| HSBC | Reduce | Hold | Downgrade | Dec 6, 2024 |
| Oppenheimer | Perform | Perform | Maintain | Mar 8, 2024 |
| Daiwa Capital | Outperform | Buy | Maintain | Dec 15, 2023 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Feb 23, 2023 |
| Deutsche Bank | Hold | Hold | Maintain | Dec 4, 2020 |
| Goldman Sachs | Neutral | Neutral | Maintain | Mar 27, 2020 |
| Bank of America | Neutral | Neutral | Maintain | Dec 6, 2019 |
| DA Davidson | Buy | Buy | Maintain | Oct 17, 2019 |
| Citi | Buy | Buy | Maintain | Sep 6, 2019 |
Named analyst price targets
Upside is calculated against the persisted previous close $69.74. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $70 | $65.82 | +0.4% | Sep 4, 2026 |
| Piper Sandler | Rob Owens | $75 | $65.97 | +7.5% | Sep 4, 2026 |
| Robert W. Baird | William Power | $72 | $65.97 | +3.2% | Sep 4, 2026 |
| Morgan Stanley | Josh Baer | $75 | $65.97 | +7.5% | Sep 4, 2026 |
| Wells Fargo | Michael Turrin | $60 | $65.97 | -14.0% | Sep 4, 2026 |
| Evercore ISI | Kirk Materne | $65 | $65.97 | -6.8% | Sep 4, 2026 |
| BTIG | Analyst unavailable | $75 | $64.64 | +7.5% | Sep 2, 2026 |
| Wedbush | Analyst unavailable | $58 | $47.18 | -16.8% | Jun 5, 2026 |
| UBS | Analyst unavailable | $60 | $50.94 | -14.0% | Jun 5, 2026 |
| Wells Fargo | Michael Turrin | $55 | $50.94 | -21.1% | Jun 5, 2026 |
| Jefferies | Brent Thill | $45 | $44.48 | -35.5% | Feb 23, 2026 |
| BTIG | Analyst unavailable | $70 | $45.21 | +0.4% | Feb 18, 2026 |
| HSBC | Analyst unavailable | $53 | $43.74 | -24.0% | Feb 13, 2026 |
| RBC Capital | Analyst unavailable | $70 | $64.85 | +0.4% | Jan 5, 2026 |
| BTIG | Allan Verkhovski | $88 | $67.58 | +26.2% | Dec 16, 2025 |
| Evercore ISI | Analyst unavailable | $80 | $66.08 | +14.7% | Dec 5, 2025 |
| UBS | Karl Keirstead | $75 | $66.48 | +7.5% | Dec 5, 2025 |
| RBC Capital | Rishi Jaluria | $95 | $66.66 | +36.2% | Dec 5, 2025 |
| Wedbush | Daniel Ives | $75 | $71.1 | +7.5% | Dec 5, 2025 |
| Robert W. Baird | Analyst unavailable | $75 | $71.1 | +7.5% | Dec 5, 2025 |
| Wells Fargo | Analyst unavailable | $75 | $71.1 | +7.5% | Dec 5, 2025 |
| UBS | Analyst unavailable | $95 | $79.86 | +36.2% | Sep 5, 2025 |
| Evercore ISI | Kirk Materne | $92 | $79.86 | +31.9% | Sep 5, 2025 |
| Robert W. Baird | Analyst unavailable | $93 | $85.76 | +33.4% | Mar 14, 2025 |
| Piper Sandler | Rob Owens | $60 | $56.93 | -14.0% | Sep 6, 2024 |
| Robert W. Baird | William Power | $59 | $56.93 | -15.4% | Sep 6, 2024 |
| Citigroup | Tyler Radke | $87 | $56.93 | +24.7% | Sep 6, 2024 |
| UBS | Karl Keirstead | $56 | $52.05 | -19.7% | Jun 7, 2024 |
| Morgan Stanley | Josh Baer | $62 | $54.6 | -11.1% | Jun 7, 2024 |
| Robert W. Baird | William Power | $55 | $54.6 | -21.1% | Jun 7, 2024 |
| RBC Capital | Rishi Jaluria | $52 | $54.6 | -25.4% | Jun 7, 2024 |
| UBS | Karl Keirstead | $62 | $59.48 | -11.1% | Apr 12, 2024 |
| Evercore ISI | Kirk Materne | $60 | $59.48 | -14.0% | Apr 12, 2024 |
| Morgan Stanley | Josh Baer | $64 | $62.65 | -8.2% | Jan 16, 2024 |
| Wedbush | Daniel Ives | $67 | $50.61 | -3.9% | Sep 8, 2023 |
| JMP Securities | Patrick Walravens | $84 | $51.9 | +20.4% | Mar 10, 2023 |
| Jefferies | Analyst unavailable | $70 | $56.27 | +0.4% | Jan 5, 2023 |
| Piper Sandler | Analyst unavailable | $55 | $56.27 | -21.1% | Jan 5, 2023 |
| Citigroup | Analyst unavailable | $72 | $52.05 | +3.2% | Dec 12, 2022 |
| Piper Sandler | Rob Owens | $48.7 | $43.75 | -30.2% | Dec 9, 2022 |
| Piper Sandler | Analyst unavailable | $50 | $43.75 | -28.3% | Dec 9, 2022 |
| Citigroup | Analyst unavailable | $59 | $41.82 | -15.4% | Dec 6, 2022 |
| UBS | Analyst unavailable | $52 | $44.5 | -25.4% | Dec 5, 2022 |
| Jefferies | Analyst unavailable | $50 | $44.56 | -28.3% | Nov 30, 2022 |
| Morgan Stanley | Josh Baer | $47 | $51.56 | -32.6% | Oct 3, 2022 |
| RBC Capital | Rishi Jaluria | $55 | $55 | -21.1% | Sep 29, 2022 |
| Wolfe Research | Analyst unavailable | $53 | $64.04 | -24.0% | Sep 12, 2022 |
| Morgan Stanley | Keith Weiss | $73 | $62.37 | +4.7% | Sep 9, 2022 |
| Wedbush | Analyst unavailable | $55 | $63.61 | -21.1% | Sep 9, 2022 |
| Citigroup | Analyst unavailable | $68 | $55.14 | -2.5% | Sep 8, 2022 |
| RBC Capital | Rishi Jaluria | $65 | $65.92 | -6.8% | Aug 22, 2022 |
| Piper Sandler | Rob Owens | $54 | $67.66 | -22.6% | Jul 20, 2022 |
| JMP Securities | Patrick Walravens | $151 | $61.22 | +116.5% | Jul 2, 2022 |
| Wolfe Research | Alex Zukin | $50 | $58.68 | -28.3% | Jun 13, 2022 |
| Citigroup | Analyst unavailable | $90 | $87.36 | +29.1% | Jun 10, 2022 |
| Wells Fargo | Analyst unavailable | $63 | $87.36 | -9.7% | Jun 10, 2022 |
| Citigroup | Tyler Radke | $90 | $65.93 | +29.1% | Jun 10, 2022 |
| Bank of America Securities | Bradley Sills | $72 | $65.93 | +3.2% | Jun 10, 2022 |
| Bank of America Securities | Bradley Sills | $72 | $87.36 | +3.2% | Jun 10, 2022 |
| Bank of America Securities | Bradley Sills | $72 | $87.36 | +3.2% | Jun 10, 2022 |
| Wells Fargo | Michael Turrin | $63 | $65.93 | -9.7% | Jun 10, 2022 |
| RBC Capital | Rishi Jaluria | $80 | $65.93 | +14.7% | Jun 10, 2022 |
| Wedbush | Daniel Ives | $60 | $83.29 | -14.0% | May 3, 2022 |
| Robert W. Baird | William Power | $105 | $101.71 | +50.6% | Apr 11, 2022 |
| UBS | Karl Keirstead | $85 | $75.01 | +21.9% | Mar 11, 2022 |
| J.P. Morgan | Sterling Auty | $94 | $75.01 | +34.8% | Mar 11, 2022 |
| Evercore ISI | Kirk Materne | $100 | $75.01 | +43.4% | Mar 11, 2022 |
| FBN Securities | Shebly Seyrafi | $95 | $75.01 | +36.2% | Mar 11, 2022 |
| Citigroup | Tyler Radke | $137 | $91.98 | +96.4% | Mar 8, 2022 |
| Bank of America Securities | Bradley Sills | $360 | $310.05 | +416.2% | Sep 3, 2021 |
Track every rating change on DOCU the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationDocuSign, Inc. is a global provider of electronic signature software, operating both within the United States and internationally. The company's core offering is an e-signature solution that empowers businesses to digitally prepare, execute, finalize, and manage various agreements. Beyond its foundational e-signature service, DocuSign offers an extensive suite of tools for digital agreement management. This includes Contract Lifecycle Management (CLM) to streamline agreement workflows, and Insights, which leverages artificial intelligence to analyze agreements based on legal concepts and clauses. For Salesforce users, there's Gen, enabling sales teams to quickly generate agreements, and Negotiate, providing functionalities like approvals, document comparisons, and version control. Customers can also utilize Analyzer to comprehend documents before signing, and the advanced CLM+ for AI-driven contract lifecycle management.…
Historical context
All DOCU earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ACN Accenture plc | FY2026 Q4 · Calendar Q4 2026 | +3.5% | +15.8% | Accenture: AI demand supports strong Q4, while pricing and geopolitics remain risks |
| JBL Jabil Inc. | FY2026 Q4 · Calendar Q3 2026 | +8.1% | -10.0% | Jabil enters FY2027 with AI-led growth and capacity risks |
| MU Micron Technology, Inc. | FY2026 Q4 · Calendar Q3 2026 | +5.4% | +0.0% | Micron: Strong AI Memory Demand, Higher Capex, and HBM4E Ahead |
| SNX TD Synnex Corp | FY2026 Q3 · Calendar Q3 2026 | +20.9% | -9.9% | TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter |
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the DOCU recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-10-02T09:36:04.930632+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-02T09:36:04.927675+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-02. For educational purposes only; not investment advice.