DocuSign slides 7.1% as investors weigh Q1 results and in-line outlook

DocuSign, Inc. (DOCU) is down 7.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to DocuSign’s first-quarter fiscal 2027 earnings release and its forward outlook. While revenue and profitability were solid, the guidance update looked largely incremental, and margins were slightly lower versus last year—factors that can trigger a sell-the-news reaction after an earnings event.

Details:

DocuSign reported Q1 fiscal 2027 revenue of $830.2 million, up 9% year over year (with a foreign-exchange tailwind noted in the release).

Non-GAAP gross margin was 81.5%, down from 82.3% in the year-ago quarter, even as free cash flow increased year over year.

For Q2 fiscal 2027, the company guided to revenue of $865 million to $869 million and non-GAAP operating margin of 29.7% to 30.2%.

For the full fiscal year 2027, the company guided to revenue of $3.490 billion to $3.502 billion and ARR growth of 8.25% to 8.75%.

Sources:

PR Newswire, DocuSign Investor Relations, StockTitan

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$DOCU Insider Trading Activity

$DOCU insiders have traded $DOCU stock on the open market 41 times in the past 6 months. Of those trades, 0 have been purchases and 41 have been sales.

Here’s a breakdown of recent trading of $DOCU stock by insiders over the last 6 months:

ALLAN C. THYGESEN (President and CEO) has made 0 purchases and 6 sales selling 52,500 shares for an estimated $3,081,215.
ROBERT CHATWANI (President General Mgr, Growth) has made 0 purchases and 9 sales selling 33,180 shares for an estimated $1,933,988.
JAMES P SHAUGHNESSY (Chief Legal Officer) has made 0 purchases and 7 sales selling 24,000 shares for an estimated $1,366,404.
BLAKE JEFFREY GRAYSON (Chief Financial Officer) has made 0 purchases and 3 sales selling 16,015 shares for an estimated $1,105,180.
PAULA HANSEN (Chief Revenue Officer) has made 0 purchases and 7 sales selling 12,000 shares for an estimated $683,317.
MARY AGNES WILDEROTTER sold 3,000 shares for an estimated $144,450
ANNA MARRS has made 0 purchases and 4 sales selling 1,456 shares for an estimated $76,753.
JAMES A BEER has made 0 purchases and 2 sales selling 900 shares for an estimated $45,027.
TERESA BRIGGS has made 0 purchases and 2 sales selling 729 shares for an estimated $34,393.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$DOCU Hedge Fund Activity

We have seen 370 institutional investors add shares of $DOCU stock to their portfolio, and 495 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

AQR CAPITAL MANAGEMENT LLC added 3,456,925 shares (+249.3%) to their portfolio in Q1 2026, for an estimated $163,892,814
NEWLANDS MANAGEMENT OPERATIONS LLC removed 2,922,708 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $138,565,586
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 2,283,996 shares (+76.1%) to their portfolio in Q1 2026, for an estimated $108,284,250
QUBE RESEARCH & TECHNOLOGIES LTD added 1,999,837 shares (+1813.7%) to their portfolio in Q1 2026, for an estimated $94,812,272
BLACKROCK, INC. removed 1,971,665 shares (-8.4%) from their portfolio in Q1 2026, for an estimated $93,476,637
GOLDMAN SACHS GROUP INC added 1,897,984 shares (+164.0%) to their portfolio in Q1 2026, for an estimated $89,983,421
MARSHALL WACE, LLP added 1,861,342 shares (+209.5%) to their portfolio in Q1 2026, for an estimated $88,246,224

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$DOCU Analyst Ratings

Wall Street analysts have issued reports on $DOCU in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Citigroup issued a "Buy" rating on 03/18/2026
BTIG issued a "Buy" rating on 02/18/2026

To track analyst ratings and price targets for $DOCU, check out Quiver Quantitative's $DOCU forecast page.

$DOCU Price Targets

Multiple analysts have issued price targets for $DOCU recently. We have seen 12 analysts offer price targets for $DOCU in the last 6 months, with a median target of $55.0.

Here are some recent targets:

Tyler Radke from Citigroup set a target price of $50.0 on 04/10/2026
Matt Bullock from B of A Securities set a target price of $52.0 on 03/31/2026
Allan Verkhovski from BTIG set a target price of $70.0 on 03/18/2026
Rishi Jaluria from RBC Capital set a target price of $55.0 on 03/18/2026
Karl Keirstead from UBS set a target price of $54.0 on 03/18/2026
Michael Turrin from Wells Fargo set a target price of $60.0 on 03/18/2026
William Power from Baird set a target price of $55.0 on 03/18/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.