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DocuSign

Docusign offers Agreement Cloud, a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device. The company was founded in 2003 and completed its initial public offering in May 2018.

DocuSign Inc

DOCUSIGN ORD

News

DoE Selects Consumers Energy To Receive Nearly $20M Financial Assistance Award To Deploy New Technology And Provide Real-time Visibility Into Grid

Apple Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone 16 scored a win in China in its first three weeks, highlighting the rising demand for luxury smartphones paired with artificial intelligence features. China is a crucial market for the company.
The iPhone 16 performance coincided with China&#8217;s stimulus plans and the upcoming holiday season.
Apple&#8217;s latest smartphone model clocked a sales growth of 20% year-on-year in their first three weeks, beating the iPhone 15, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-18/apple-iphone-16-sales-soar-20-in-china-debut-as-demand-recovers?srnd=phx-technology&amp;sref=TBDibEcD" rel="noreferrer noopener">cites</a> Counterpoint Research data.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41143369/apple-to-launch-budget-iphone-in-2025-aims-for-market-share-gains-from-huawei-and-xiaomi" rel="noreferrer noopener">Apple To Launch Budget iPhone in 2025, Aims for Market Share Gains from Huawei and Xiaomi</a>
The shift to the premium models fueled sales of the top-end Pro and Pro Max models by 44% year-on-year.
Counterpoint&#8217;s&nbsp;Ivan Lam attributed the iPhone 15&#8217;s weak initial response to production issues and competition from&nbsp;Huawei Technologies Co&#8217;s Mate 60 series.
However, challenges continue to lurk for iPhones from China&#8217;s domestic companies, like&nbsp;Vivo&#8217;s X200 Pro flagship, Huawei&#8217;s next-generation Mate device, and&nbsp;Xiaomi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>) and&nbsp;Oppo&#8217;s upcoming offerings.
Lam also flagged the postponement of purchases by Chinese consumers until November&#8217;s Singles&#8217; Day to avail themselves of discounts from Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)&nbsp;and&nbsp;JD.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>).
Separate reports indicated Chinese online retailers PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) Pinduoduo and Alibaba&#8217;s Taobao doled out discounts on the iPhone 16 series ahead of its official release due to its <a target="_blank" href="https://www.benzinga.com/news/24/09/40785959/iphone-16-fails-to-sway-some-chinese-buyers-im-going-to-buy-huaweis-tri-fold-phone-missing-ai-featur" rel="noreferrer noopener">lack of AI features</a>, which will likely roll out for Chinese users in 2025.
Pinduoduo started selling the iPhone 16 Plus with 512 gigabytes of storage at a 10% discount from the official price. The 128GB iPhone 16 is being sold at an even steeper 11% discount.
Both Pinduoduo and Taobao marketplace have slapped a 4% discount on the 256GB version of the high-end iPhone 16 Pro Max. Tmall shopping platform also offers buyers the option to pay for a new Apple handset in 24 instalments without interest charges.
Kuo Ming-chi of TF International Securities <a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3278855/apples-iphone-16-already-selling-discount-china-ai-delay-cools-demand" rel="noreferrer noopener">told</a> SCMP that the global pre-order sales for the iPhone 16 are down 13% compared to last year&#8217;s iPhone 15 launch, partly due to the absence of Apple Intelligence and intense competition in China.
International Data Corporation (IDC)&nbsp;had <a target="_blank" href="https://www.benzinga.com/news/24/08/40600289/apples-market-share-poised-to-gain-genai-and-iphone-16-lead-the-way-idc" rel="noreferrer noopener">projected a recovery</a> in the smartphone market, which was hampered by the supply chain crisis fueled by the 2020 pandemic outbreak in China.
IDC pointed to the success of generative AI in the upcoming iPhone 16 and Apple&#8217;s ability to establish local AI partnerships in China as potential growth factors. It forecasts that GenAI smartphones will capture 18% of the market by 2024, fueled by premium device trends.
Apple stock gained 39% in the last six months. Investors can gain exposure to the stock through Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
Price Action: AAPL stock traded higher by 1.79% at $236.30 premarket at the last check on Friday.
Also Read:
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<li><a href="https://www.benzinga.com/news/24/10/41388050/apples-3nm-push-boosts-taiwan-semis-q3-ai-revenue-set-to-triple-analyst" target="_blank" rel="noreferrer noopener">Apple&#8217;s 3nm Push Boosts Taiwan Semi&#8217;s Q3, AI Revenue Set To Triple: Analyst</a></li>
</ul>
Photo courtesy: Apple

Government

Emerging Markets

Tech

Media

AAPL

BABA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

XIACF

XIACY

Apple iPhone 16 Sees 20% Sales Surge in China, But AI Absence Prompts Early Price Cuts

HC Wainwright &amp; Co. analyst Sean Lee reiterates Verastem (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTM#NASDAQ">VSTM</a>) with a Buy and maintains $7 price target.

Price Target

Reiteration

Analyst Ratings

VSTM

HC Wainwright & Co. Reiterates Buy on Verastem, Maintains $7 Price Target

HC Wainwright &amp; Co. analyst Swayampakula Ramakanth reiterates Delcath Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCTH#NASDAQ">DCTH</a>) with a Buy and maintains $22 price target.

DCTH

HC Wainwright & Co. Reiterates Buy on Delcath Systems, Maintains $22 Price Target

B of A Securities analyst Vivek Arya maintains NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with a Buy and raises the price target from $165 to $190.

NVDA

B of A Securities Maintains Buy on NVIDIA, Raises Price Target to $190

BMO Capital analyst Fadi Chamoun downgrades Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) from Outperform to Market Perform and lowers the price target from $214 to $210.

Downgrades

ODFL

BMO Capital Downgrades Old Dominion Freight Line to Market Perform, Lowers Price Target to $210

On Friday, CVS Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) appointed longtime executive David Joyner as its new president and CEO, replacing Karen Lynch amid the company&#8217;s <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41398693/cvs-health-appoints-david-joyner-president-and-chief-executive-officer" rel="noreferrer noopener">ongoing financial struggles</a>.
Joyner, previously president of CVS Caremark and an executive vice president at the company, steps into this leadership role as Roger Farah, CVS&#8217;s board chairman, assumes the executive chair position.
The company warned that its upcoming third-quarter earnings, set for release on November 6, will miss Wall Street projections.
The company revealed preliminary third-quarter 2024 adjusted EPS of $1.05-$1.10, compared to the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $1.70</a>. Analysts expect sales of $92.73 billion.
Results for the third quarter include charges to record premium deficiency reserves (PDRs), primarily related to the company&#8217;s Medicare and Individual Exchange businesses inside its Health Care Benefits segment, of approximately&nbsp;$1.1 billion, which lowered third quarter 2024 Adjusted EPS by&nbsp;$0.63.
In the third quarter of 2024, CVS continued to experience medical cost trends over those projected in its prior outlook.
The Medical Benefit Ratio for the third quarter is currently expected to be approximately 95.2%, which includes a 220-basis point impact from the PDRs.
The company added, &#8221; In light of continued elevated medical cost pressures in the Health Care Benefits segment, investors should no longer rely on the company&#8217;s previous guidance.&#8221;
The pharmacy giant is also backing away from the fiscal year 2024 issued during the second-<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40220306/cvs-health-reports-mixed-q2-earnings-lowers-2024-outlook-reshuffles-segment-management" rel="noreferrer noopener">quarter earnings release</a>.
The company&nbsp;reported second-quarter sales of $91.23 billion, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $91.51 billion</a>.&nbsp;Adjusted EPS of&nbsp;$1.83&nbsp;decreased from&nbsp;$2.21&nbsp;in the prior year, beating the consensus of $1.73.&nbsp;
In Q2 earnings, CVS Health revised its 2024 adjusted EPS guidance to $6.40-$6.65&nbsp;from at least&nbsp;$7.00&nbsp;versus consensus of $6.98.
CVS Health&nbsp;forecasted&nbsp;2024 sales of $369.0 billion—$372.0 billion versus a consensus of $368.876 billion at prior guidance of at least $369 billion.
The company expected a medical benefits ratio of 90.6% – 90.8% versus ~<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40220306/cvs-health-reports-mixed-q2-earnings-lowers-2024-outlook-reshuffles-segment-management" rel="noreferrer noopener">89.8% expected earlier</a>.
The company is already struggling as the Federal Trade Commission (FTC) filed a formal complaint against three major pharmacy benefit managers (PBMs)—CVS Health&#8217;s Caremark,&nbsp;Cigna Corp&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>)&nbsp;Express Scripts, and&nbsp;UnitedHealth Group Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)&nbsp;Optum—for allegedly engaging in unfair and anti-competitive practices that have inflated the list&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40964870/us-federal-trade-commission-sues-cvs-health-cigna-unitedhealths-pharmacy-benefit-managers-for-infl" rel="noreferrer noopener">price of insulin medications</a>.
As per an October report, CVS Health is also considering a major restructuring that could involve separating its&nbsp;retail <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/10/41115344/cvs-health-mulls-split-of-retail-and-insurance-divisions-to-address-financial-challenges-report" rel="noreferrer noopener">and insurance businesses</a>.
These talks with financial advisers explore how a potential breakup would work, although no final decisions have been made yet.
Price Action: At last check on Friday, CVS stock was down 12.30% at $55.87 during the premarket session.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41389304/abbott-labs-path-to-double-digit-earnings-growth-in-2025-this-analyst-is-optimistic" target="_blank" rel="noreferrer noopener">Abbott Labs Path To Double-Digit Earnings Growth In 2025? This Analyst Is Optimistic</a></li>
</ul>
Image via Shutterstock

Earnings

Large Cap

Guidance

Health Care

Management

Movers

General

Pharmacy Retailer CVS Health Backs Away From Annual Forecast, Names New CEO

HC Wainwright &amp; Co. analyst Swayampakula Ramakanth maintains Corcept Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORT#NASDAQ">CORT</a>) with a Buy and raises the price target from $45 to $80.

CORT

HC Wainwright & Co. Maintains Buy on Corcept Therapeutics, Raises Price Target to $80

Baird analyst David Rescott maintains Intuitive Surgical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) with a Outperform and raises the price target from $503 to $565.

ISRG

Baird Maintains Outperform on Intuitive Surgical, Raises Price Target to $565

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Kezar Life Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KZR#NASDAQ">KZR</a>) with a Neutral.

HC Wainwright & Co. Reiterates Neutral on Kezar Life Sciences

AVTR

Avantor Closes Previously Announced Divestiture Of Its Clinical Services Business  In A Transaction Valued At Approximately $650M, Company Sees $500M In After-tax Cash Proceeds And Reduction Of Approximately $50M In Capitalized Leases

SOBR Safe, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) shares are trading higher Friday morning. On Thursday, the company filed a Form RW indicating that it has decided not to <a target="_blank" href="https://ir.sobrsafe.com/sec-filings/all-sec-filings/content/0001477932-24-006541/sobr_rw.htm" rel="noreferrer noopener">proceed </a>with the proposed public offering at this time.
The Commission has not declared the Registration Statement effective, and no securities have been sold in connection with the offering.
Recently, the company announced the pricing of a private placement with institutional investors, expected to<a href="https://www.benzinga.com/news/24/10/41231927/why-sobr-safe-stock-is-getting-hammered" target="_blank" rel="noreferrer noopener"> raise $8.2 million in gross proceeds</a>.
The company planned to issue 2.02 million units at $4.05 per unit, each consisting of one share of common stock or a pre-funded warrant, along with Series A and Series B warrants.
The proceeds were intended to be used for general corporate purposes and working capital. The private placement was expected to close by October 8, pending customary closing conditions.
Price Action: SOBR shares are up 116.3% at $17.20 premarket at the last check Friday.
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</ul>

Equities

Small Cap

SOBR

Why Is SOBR Safe Stock Rocketing On Premarket Friday?

Contracts

LASE

Laser Photonics Completes Dual Follow-On Sale To Deliver Two Additional CleanTech Industrial Roughening Laser 3050 Systems To Acuren

VERI

Veritone Enhances Veritone Track To Add Ai-powered Vehicle Tracking; In Addition To Vehicle Tracking, Veritone Track Assists Agencies With Several Other Applications

Manara Minerals, a joint venture between Saudi Arabia's Public Investment Fund (PIF) and Ma'aden (Saudi Arabian Mining Co), is nearing a deal to purchase a 15% to 20% stake in First Quantum Minerals (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FQVLF#OTC">FQVLF</a>) Zambian copper and <a target="_blank" href="https://www.benzinga.com/topic/nickel" rel="noreferrer noopener">nickel assets</a>.
The potential transaction, which Reuters <a target="_blank" href="https://www.reuters.com/markets/deals/saudis-manara-advanced-talks-buy-stake-first-quantums-zambian-mines-2024-10-16/" rel="noreferrer noopener">reported</a> citing information from trusted sources, is valued between $1.5 billion and $2 billion. It includes First Quantum's Kansanshi and Sentinel copper mines and the Enterprise nickel mine.
This deal aligns with Manara's recent investments, including a <a target="_blank" href="https://www.benzinga.com/news/24/10/41311099/terrorism-in-pakistan-threatens-foreign-mine-development-saudi-arabia-still-invests-billions" rel="noreferrer noopener">$1 billion commitment </a>to Barrick Gold's Reko Diq project in Pakistan and a $2.5 billion investment in Brazilian mining giant Vale.
The sale of its Zambian assets would help the company manage its debt while retaining control over its key operations.
In December 2023, after the Panama government <a target="_blank" href="https://www.benzinga.com/markets/commodities/23/12/36259547/copper-shortage-first-quantums-cobre-panama-mine-shuts-down-threatening-supply-balance" rel="noreferrer noopener">ordered the shutdown</a> of its flagship Cobre Panama mine, First Quantum lost significant revenue, pushing the company to <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/03/37483591/first-quantum-exploring-zambian-asset-sales" rel="noreferrer noopener">explore capital restructuring</a>, including selling assets and issuing a $1 billion share offering.
Zambia, a major player in global copper production, holds vast potential for mining investors, as this metal is critical to the green energy transition. This year, B, a startup backed by billionaires including Bill Gates and Jeff Bezos, announced the discovery of one of the <a target="_blank" href="https://www.benzinga.com/news/24/02/36940360/kobold-metals-announces-historic-copper-discovery-in-zambia" rel="noreferrer noopener">largest copper deposits</a> in Zambia's history at the Mingomba site. However, the country's mining sector faces significant challenges, particularly in terms of infrastructure.
Road and rail networks are underdeveloped, limiting material transport, and the country has faced ongoing issues with power supply.
Zambia relies on hydropower for 80% of its electricity, but droughts and fluctuating rainfall have caused frequent shortages.
For companies like First Quantum, ensuring consistent energy for operations has become a key concern. Emergency measures such as importing electricity from South Africa's Eskom have been implemented to mitigate the impact.
Power outages disrupt operations and make mining investments less attractive to foreign investors. The mining industry generates as much as 70% of exports while using about half of the national power demand, making the country's plan to boost the copper output to 1 <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/04/38115830/zambia-mining-boom-the-road-to-1-million-tons-of-copper" rel="noreferrer noopener">million tons by 2026</a> ambitious.
Read Next:
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</ul>
Photo via Shutterstock

Rumors

Commodities

FQVLF

GOLD

Saudi Arabia Targeting Billions In Zambian Assets, Despite Persistent Infrastructure Troubles

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Anavex Life Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVXL#NASDAQ">AVXL</a>) with a Buy and maintains $40 price target.

AVXL

HC Wainwright & Co. Reiterates Buy on Anavex Life Sciences, Maintains $40 Price Target

Founded in 1903, SOSS primarily sells its solutions in North American non-residential markets.&nbsp;SOSS will report into the Allegion Americas segment, led by Allegion Senior Vice President Dave Ilardi.

ALLE

Allegion Acquires SOSS Door Hardware; Terms Not Disclosed

American Express Consolidated Provision For Credit Losses $1.4B vs $1.2B A Year Ago

American Express Raises Full-Year EPS Guidance From $13.30-$13.80 To $13.75-$14.05

KSPI

Kaspi.kz Says On Track For FY24 Net Income Growth Of Around 25%

DocuSign: A Midcap Worth Considering

DocuSign stock gains on inclusion to S&P Midcap 400 Index

Biggest stock movers today: Chinese stocks, and more

Biggest stock movers today: Robinhood, Chinese names, energy firms and more

Snowflake tops cloud software cos. focused on revenue KPIs: Baird

The technology industry is well-positioned for significant growth thanks to continued innovation in the software and services field. Amid this backdrop, it could be wise to buy undervalued tech stocks, such as SS&C Technologies Holdings (SSNC), DocuSign (DOCU), and Dropbox (DBX), with "Strong Buy" ratings. Continue reading… Businesses heavily depend on software solutions to enhance operations, elevate customer experiences, gain data-driven insights, and protect their systems as they strive to adapt and stay competitive in the ever-changing digital landscape, leading to a tech revolution.
Thus, investors could consider adding fundamentally sound tech stocks SS&amp;C Technologies Holdings, Inc. (<a href="https://stocknews.com/stock/SSNC/">SSNC</a>), DocuSign, Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>), and Dropbox, Inc. (<a href="https://stocknews.com/stock/DBX/">DBX</a>) to their portfolios, which are currently trading relatively cheaply. Additionally, these stocks have a "Strong Buy" rating in our proprietary rating system.
The software industry is growing due to increasing demand for digital transformation across businesses and rapid advancements in AI, cloud computing, and automation, which enhance efficiency and innovation.
Additionally, the shift to remote work and the rise of SaaS models have further fueled its expansion. The software market is projected to grow at a <a href="https://www.marketresearchfuture.com/reports/software-market-11924">CAGR of 11.9%</a> by 2032, which shows how in-demand tech is currently.
Moreover, the growing popularity of cloud-based software and rising concern to automate business processes are continuously increasing the demand for IT services worldwide. Cloud-based IT services are experiencing rapid growth among SMEs since 2022 and are expected to capture more than <a href="https://www.industryarc.com/Research/IT-Services-Market-Research-501180">80% of the market share by 2025</a>. 
Considering these conducive factors, let's take a look at the fundamentals of the three tech stock picks.
SS&amp;C Technologies Holdings, Inc. (<a href="https://stocknews.com/stock/SSNC/">SSNC</a>)
SSNC provides software products and software-enabled services to financial services and healthcare industries. Its products and services allow professionals in these industries to automate complex business processes and manage information processing requirements.
SSNC's forward <a href="https://www.investopedia.com/terms/e/ev-ebitda.asp">EV/EBITDA</a> of 10.80x is 8.5% lower than the industry average of 11.79x. Its forward EV/EBIT multiple of 11.13 is 33.4% lower than the industry average of 16.70.
For the second quarter, which ended June 30, 2024, SSNC reported total revenues at $1.45 billion, which is up 6.5% year-over-year. The company's net income stood at $190.30 million and $0.75 per share, up 45.6% and 47% year-over-year, respectively.
Analysts expect SSNC's revenue for the third quarter (ended September 2024) to increase 5.5% year-over-year to $1.44 billion, while its EPS is expected to grow 7.6% year-over-year to $1.26. In addition, the company surpassed the consensus EPS and revenue estimates in three of the trailing four quarters.
Over the past year, the stock has gained 41.4% to close the last trading session at $73.69.
SSNC's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
SSNC has a B grade for Growth, Stability, Sentiment, and Value. It is ranked #3 out of 129 stocks in the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry.
Beyond what is stated above, we've also rated SSNC for Quality and Momentum. Get all SSNC ratings <a href="https://stocknews.com/stock/SSNC/">here</a>.
DocuSign, Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>)
DOCU offers electronic signature solutions internationally. The company provides an e-signature solution that enables the sending and signing of agreements, Contract Lifecycle Management that automates workflows, Document Generation streamlines the process of generating new, custom agreements, and more.
DOCU's forward EV/EBITDA of 12.47x is 13.5% lower than the industry average of 14.42x. Its forward EV/EBIT multiple of 13.82 is 31% lower than the industry average of 20.03.
In the second quarter that ended July 31, 2024, DOCU's total revenue increased 7% year-over-year to $736 million. Its gross profit grew 37.3% from the year-ago value to $580.56 million. Its non-GAAP net income and non-GAAP EPS were $200.99 million and $0.97, up 34.3% and 34.7% year-over-year, respectively.
Street expects DOCU's revenue to increase 6.4% year-over-year to $745.31 million for the third quarter ending October 2024. The company's EPS for the same quarter is expected to increase 10.2% year-over-year to $0.87. Also, DOCU surpassed the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
The stock has gained 58.8% over the past year to close the last trading session at $66.89.
DOCU's robust fundamentals are reflected in its POWR Ratings. It has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
The stock has an A grade for Quality and a B for Value and Growth. DOCU is ranked first out of 18 stocks in the <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> industry.
<a href="https://stocknews.com/stock/DOCU/">Click here</a> to access the additional DOCU ratings (Momentum, Sentiment, and Stability).
Dropbox, Inc. (<a href="https://stocknews.com/stock/DBX/">DBX</a>)
DBX provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features.
DBX's trailing-12-month EV/EBITDA of 9.10x is 36.9% lower than the industry average of 14.42x. Its forward EV/EBIT multiple of 10.66 is 46.8% lower than the industry average of 20.03.
DBX's total revenue for the fiscal second quarter that ended June 30, 2024, amounted to $634.50 million, up 1.9% year-over-year. The company's non-GAAP net income stood at $194.10 million and $0.60 per share, up 11.6% and 17.6% year-over-year, respectively.
For the quarter ended September 30, 2024, DBX's revenue is expected to increase marginally year-over-year to $637.19 million. Its EPS for the same quarter is expected to be $0.53. It surpassed consensus revenue and EPS estimates in each of the trailing four quarters.
Over the past three months, the stock gained 14.6%, closing the last trading session at $25.48.
DBX's POWR Ratings reflect bright prospects. The stock has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
The stock has an A grade for Quality and a B for Value. DBX is ranked #7 out of 77 stocks in the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry.
In addition to the POWR Ratings highlighted above, one can access DBX's ratings (Growth, Momentum, Stability, and Sentiment) <a href="https://stocknews.com/stock/DBX/">here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

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SSNC shares were trading at $74.48 per share on Wednesday afternoon, up $0.79 (+1.07%). Year-to-date, SSNC has gained 23.23%, versus a 22.37% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Nidhi Agarwal</h2> <img src='https:/wp-content/uploads/2023/03/Nidhi-Agarwal_Headshot-3.jpg' style="float:left; padding:5px;width:125px;">Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program.

Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.<a href="https://stocknews.com/authors/?author=nidhi-agarwal">More...</a>The post <a href=https://stocknews.com/news/ssnc-docu-dbx-3-undervalued-tech-stocks-with-strong-buy-ratings/>3 Undervalued Tech Stocks With Strong Buy Ratings</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Undervalued Tech Stocks With Strong Buy Ratings

Bullish Software stocks you shouldn't sleep on

ClearBridge Select Strategy Q3 2024 Commentary

The SaaS industry is experiencing rapid evolution, enabling versatility, cost-efficiency, and enhanced customer retention, making it a compelling opportunity to capitalize on this trend. Thus, it could be wise to take a look at high-growth SaaS stocks like DocuSign (DOCU), Twilio (TWLO), and Smartsheet (SMAR). Read more… The SaaS (Software-as-a-Service) industry is booming, driven by increased digitalization, the rise of remote work and a shift towards cloud-based solutions. SaaS companies offer subscription-based services that enhance business efficiency, drive innovation, and provide strong data security, making them essential for modern enterprises.
With such strong industry fundamentals, high-growth SaaS stocks like DocuSign, Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>), Twilio Inc. (<a href="https://stocknews.com/stock/TWLO/">TWLO</a>), and Smartsheet Inc. (<a href="https://stocknews.com/stock/SMAR/">SMAR</a>) are poised for long-term returns. These companies offer innovative solutions that improve data management and streamline workflows, making them attractive options for investors looking to tap into this high-growth market.
SaaS companies are experiencing strong tailwinds because of their versatility, especially in verticals such as customer relationship management (CRM), cybersecurity, and enterprise resource planning (ERP). According to a report by <a href="https://www.saasacademy.com/blog/saas-statistics">SaaS Academy</a>, by the end of 2024, over 80% of businesses are expected to use at least one SaaS application in their operations, and 99% of companies will rely on some form of SaaS solution.
In line with these trends, global spending on SaaS is expected to <a href="https://www.gartner.com/en/newsroom/press-releases/2024-05-20-gartner-forecasts-worldwide-public-cloud-end-user-spending-to-surpass-675-billion-in-2024#:~:text=SaaS%20spending%20is%20projected%20to%20grow%2020%25%20to%20total%20%24247.2%20billion%20in%202024.">grow by 20%</a>, reaching $247.20 billion in 2024. Furthermore, the global SaaS market is anticipated to hit $1.3 trillion by 2030, exhibiting a <a href="https://redline.digital/saas-industry-statistics/#:~:text=The%20global%20SaaS,108%20billion%20currently.">CAGR of 19.7%</a>. The United States currently holds a dominant market share of $108 billion, making SaaS one of the most attractive sectors for high-growth investments.
Considering these conducive trends, let's examine the <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> industry stocks in detail, beginning with the third choice:
Stock #3: Twilio Inc. (<a href="https://stocknews.com/stock/TWLO/">TWLO</a>)
TWLO provides a customer engagement platform comprising international communications application programming interfaces. It operates through two segments: Twilio Communications and Twilio Data &amp; Applications.
On October 1, TWLO and OpenAI collaborated to integrate OpenAI's Realtime API into its platform. This integration will enable TWLO to build conversational AI applications and agents, which will bring customers more natural interactions to the platform.
On September 9, TWLO announced expanded accessibility of Rich Communication Services (RCS) messaging via its Programmable Messaging and Verify APIs to enhance branded and verified messaging and build customer trust in its source.
In the fiscal second quarter that ended on June 30, 2024, TWLO's revenue increased 4.3% year-over-year to $1.08 billion with a non-GAAP gross margin of 53.3% (up 110 bps year-over-year). The company reported non-GAAP income from operations of $175.32 million, indicating a 45.9% growth from the prior-year quarter.
TWLO's non-GAAP net income came in at $150.12 million, up 48.9% year-over-year, while its non-GAAP net income per share grew 61.1% from the year-ago value to $0.87. Also, its <a href="https://www.investopedia.com/terms/f/freecashflow.asp">free cash flow</a> increased 174.7% year-over-year to $197.58 million.
According to the financial guidance for fiscal year 2024, the company's non-GAAP income from operations is projected to be between $650 million and $675 million, with organic revenue growth anticipated to range from 6%-7%.
The consensus revenue estimate of $1.09 billion for the fiscal third quarter (ended September 2024) represents a 5.8% increase year-over-year. The consensus EPS estimate of $0.86 for the same quarter indicates a 47.6% improvement year-over-year. The company has an impressive surprise history; it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Moreover, TWLO's revenue has grown at CAGRs of 23.4% and 36.9% over the past three and five years, respectively. In addition, its levered FCF increased at 39% CAGR over the past three years.
The stock has gained 22.9% over the past year to close the last trading session at $70.50.
TWLO's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
TWLO has an A grade for Growth and a B for Value and Sentiment. It is ranked #10 out of 18 stocks in the A-rated <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> industry. <a href="https://stocknews.com/stock/TWLO/">Click here</a> to see the additional ratings for TWLO (Momentum, Stability, and Quality).
Stock #2: Smartsheet Inc. (<a href="https://stocknews.com/stock/SMAR/">SMAR</a>)
SMAR provides a work management platform for organizations, allowing them to plan, capture, manage, automate, and report on work at scale. The company's platform enables teams of all sizes to manage custom processes, programs, and portfolios that fit, and it delivers its cloud-based software platform globally through a subscription model.
On October 8, SMAR announced its strategic collaboration with AWS to launch a new connector for Amazon Q Business that synchronizes data and provides insights to the customers. This new connector will allow the generative AI-powered assistant to answer customers' queries through a unified search experience.
SMAR's total revenue for the second quarter (ended July 31, 2024) increased 17.3% year-over-year to $276.41 million. Its non-GAAP operating income grew 135.7% from the prior year's quarter to $45.29 million. The company's non-GAAP net income amounted to $61.64 million and $0.44 per share, reflecting an increase of 180% and 175% year-over-year, respectively. In addition, SMAR's free cash flow rose 25.6% from the year-ago value to $57.15 million.
As per the fiscal year 2025 financial outlook, SMAR forecasts total revenue to range between $1.116 billion and $1.121 billion. The company also expects non-GAAP operating income to be between $177 million and $182 million and a free cash flow of $240 million. It also expects non-GAAP net income per share to be between $1.36 and $1.39.
Street expects SMAR's revenue for the fiscal third quarter (ending October 2024) to increase 15.4% year-over-year to $283.87 million. Its EPS for the same period is expected to register a 90.1% growth from the prior year, settling at $0.30. In addition, it surpassed the consensus revenue and EPS in each of the trailing four quarters, which is excellent.
Over the past three and five years, SMAR's revenue grew at CAGRs of 31.6% and 36.5%, respectively, while its levered FCF grew at 47.3% CAGR over the past five years.
Over the past six months, the stock has gained 53.1%, closing the last trading session at $56.02.
It's no surprise that SMAR has an overall rating of B, equating to a Buy in our POWR Ratings system. It has an A grade for Growth and a B for Sentiment and Quality. Out of 18 stocks in the same A-rated industry, SMAR is ranked #6.
Beyond what is stated above, we've also rated SMAR for Value, Momentum, and Stability. Get all SMAR ratings <a href="https://stocknews.com/stock/SMAR/">here</a>.
Stock #1: DocuSign, Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>)
DOCU provides cloud-based electronic signature solutions that enable sending and signing agreements, allowing organizations to do business faster with less risk and at a lower cost. It also offers contract lifecycle management software that automates workflows.
On June 4, DOCU announced the launch of a new connector for SAP Ariba solutions that will help automate workflows between DOCU's CLM and SAP Ariba, streamlining the source-to-pay process. This launch enhances DOCU's market position and firmly establishes the company as a leader.
On May 31, DOCU completed its acquisition of Lexion, a leading AI-powered agreement management company. This acquisition will strengthen DOCU's Intelligent Agreement Management (IAM) capabilities, bringing more insights, analysis, and automation to its customers.
For the second quarter of 2025, which ended on July 31, DOCU's total revenues increased 7% year-over-year to $736.03 million. Its non-GAAP income from operations stood at $237.16 million, indicating a 39.6% growth from the prior-year quarter.
DOCU's non-GAAP net income rose 34.3% from the year-ago value to $200.99 million, while its non-GAAP net income per share stood at $0.97, up 34.7% year-over-year. Also, the company's non-GAAP free cash flow grew by 7.8% from the year-ago value to $197.93 million.
Per the outlook for fiscal year 2025, DOCU expects its total revenue to be between $2.94 billion and $2.95 billion. It forecasts subscription revenue to range from $2.86 billion to $2.88 billion, with billings between $2.99 and $3.03 billion. Additionally, DOCU expects its non-GAAP operating margin to fall in the range of 29% to 29.5%.
Analysts expect DOCU's revenue for the third quarter ending October 31, 2024, to increase 6.4% year-over-year to $745.31 million, while its EPS for the same period is expected to grow 10.2% from the prior-year quarter to $0.87. The company surpassed consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
DOCU's revenue has grown at CAGRs of 16.8% and 28.1% over the past three and five years, respectively. Likewise, the company's total assets have increased at a CAGR of 16.8% over the past three years.
DOCU shares have surged 74.2% over the past year and 27.9% over the past month to close the last trading session at $72.60.
DOCU's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It also has an A grade for Quality and a B for Growth and Value. Within the Software - SAAS industry, it is ranked first. <a href="https://stocknews.com/stock/DOCU/">Click here</a> to see DOCU's ratings for Momentum, Stability, and Sentiment.
What To Do Next?
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DOCU shares were unchanged in premarket trading Thursday. Year-to-date, DOCU has gained 22.12%, versus a 23.66% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/docu-twlo-smar-3-high-growth-saas-stocks-with-market-beating-potential/>3 High-Growth SaaS Stocks With Market-Beating Potential</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 High-Growth SaaS Stocks With Market-Beating Potential

In a report released today, Jake Roberge from William Blair maintained a Hold rating on DocuSign (DOCU – Research Report). The company's shares clo...

William Blair Sticks to Its Hold Rating for DocuSign (DOCU)

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Press Releases

Docusign Announces Timing of First Quarter Fiscal 2025 Earnings Conference Call

Docusign Completes Acquisition of Lexion to Accelerate Intelligent Agreement Management

Docusign Introduces New Connector for SAP Ariba Solutions at SAP Sapphire

Fintech

Docusign Announces First Quarter Fiscal 2025 Financial Results; Announces $1.0 Billion Increase to Share Repurchase Program

Docusign Announces New Revenue and Engineering Leadership to Help Execute Vision for Intelligent Agreement Management

Docusign Announces Timing of Second Quarter Fiscal 2025 Earnings Conference Call

Docusign Announces Second Quarter Fiscal 2025 Financial Results

Moderne Ventures Closes over $230M for MV Fund III, Scaling its Modern Approach to Venture Investing

DocuSign Set to Join S&P MidCap 400 and MDU Resources Group to Join S&P SmallCap 600

Docusign Named a Leader in the 2024 Gartner® Magic Quadrant™ for Contract Life Cycle Management

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