DocuSign (DOCU) saw its IBD SmartSelect Composite Rating jump to 97 Tuesday, up from 94 the day before.
XThe revised score means the stock currently tops 97% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
DocuSign stock is currently forming a consolidation, with a 314.86 buy point. Look for the stock to break out in volume at least 40% above average. It's a later-stage base, and such bases are more prone to failure. Proceed with caution.
See How IBD Helps You Make More Money In Stocks
The stock earns a 99 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth tops 99% of all stocks. Next earnings report for DocuSign stock is scheduled on or around December 3.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
The company reported a 176% earnings gain for Q2. Sales growth came in at 50%, down from 58% in the previous quarter.
DocuSign stock holds the No. 8 rank among its peers in the Computer Software-Enterprise industry group. Datadog Inc Cl A (DDOG), Techtarget (TTGT) and ZoominfoTechnologies (ZI) are among the top 5 highly-rated stocks within the group.
YOU MIGHT ALSO LIKE:
Join IBD Live And Learn Top Chart-Reading And Trading Techniques From The Pros
MarketSmith's Tools Can Help The Individual Investor
Profit From Short-Term Trends With SwingTrader
Get Timely Buy & Sell Alerts With IBD Leaderboard
Find The Best Long-Term Investments With IBD Long-Term Leaders
