Docusign Is Breaking Out of Its E-Signature Box — Analysts See a Bigger AI Opportunity

Docusign Inc. (NASDAQ: DOCU ) drew bullish commentary from analysts after its fiscal second-quarter results showed accelerating growth in its Intelligent Agreement Management business (IAM), improving retention and stronger-than-expected profitability . Citizens analyst Patrick Walravens maintained a Market Outperform rating and an $86 price forecast . The analyst highlighted Docusign’s 9.4% revenue growth, improving net retention, and IAM annual recurring revenue of about $529 million. IAM accounted for 15.1% of total ARR, ahead of Citizens’ $474 million estimate. Walravens said Docusign is using its dominant e-signature position to become the “agreement layer” across enterprises. He expects IAM ARR to exceed $650 million by the end of fiscal 2027 and account for roughly 18.5% of total ARR...