NASDAQ · STOCK
Docusign
$54.78
52W $40.16 – $86.65
56/100
$10.47B
34.9
0.90
Is DOCU Bullish or Bearish?
Mixed.
Innellis AI committee rates Docusign (DOCU) Watch with a composite score of 56/100
, based on 7 analysts with 71% agreement.
Last updated August 01, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +3.55 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Reduce
- Requires the score to fall below 40.0 — -16.45 from today. The band boundary is 45.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
Some positive signals exist — market regime is bullish (bull market -- normal position sizing) — but they are not yet strong enough to justify a Buy. The committee is monitoring for confirmation.
Bull & Bear Case
Bull Case
- ROE of 16.4% shows genuine earnings power backing the valuation — Value
- 4 consecutive earnings beats -- consistent execution — Growth
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
- MACD histogram positive -- bullish momentum — Technical
- Low leverage (debt-to-equity 0.00) -- balance sheet can absorb a shock — Risk
- Market regime is bullish (Bull market -- normal position sizing) — Macro
Bear Case
- P/E of 33.1 is moderate-to-rich — Value
- Price-to-book of 5.4x prices in significant intangible value — Value
- EPS declining -70.9% YoY despite any revenue growth — Growth
- Current ratio of 0.73 is tight -- limited short-term liquidity cushion — Risk
- Bollinger bandwidth of 25.3% signals elevated volatility — Risk
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of August 01, 2026
Overall Committee Score
56/100
Agreement
71%
Analysts
7
Conviction
Moderate
Sector Rank
Top 43%
of 172 Technology peers
Value Analyst
neutral
54
/ 100 · High confidence
Fair value -- neither a bargain nor obviously overpriced
+ ROE of 16.4% shows genuine earnings power backing the valuation
− P/E of 33.1 is moderate-to-rich
Growth Analyst
neutral
56
/ 100 · High confidence
Moderate growth -- present but not remarkable
+ 4 consecutive earnings beats -- consistent execution
− EPS declining -70.9% YoY despite any revenue growth
Technical Analyst
neutral
58
/ 100 · High confidence
Mixed or range-bound price action
+ MACD histogram positive -- bullish momentum
Risk Analyst
neutral
50
/ 100 · Moderate confidence
Moderate risk -- no single red flag, but nothing that clearly de-risks the position either
+ Low leverage (debt-to-equity 0.00) -- balance sheet can absorb a shock
− Current ratio of 0.73 is tight -- limited short-term liquidity cushion
Macro Analyst
bullish
70
/ 100 · Moderate confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
+ Market regime is bullish (Bull market -- normal position sizing)
News Analyst
bullish
62
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
Portfolio Manager
neutral
45
/ 100 · High confidence
Portfolio-level factors are mixed -- worth a deliberate sizing decision, not a default-size position
+ Portfolio position concentration is currently healthy
− Sector concentration is already high (HHI 2535.03)
Investment Thesis Evolution
Committee score moved marginally from 54.7 to 56.5.
- Conviction changed from high to moderate.
- Committee agreement fell notably from 86% to 71%.
- New bearish signals: 4 appeared.
- Bearish pressure eased: 4 signal(s) disappeared.
- Analyst(s) changed stance: Macro Analyst.
Analyst-level changes:
- Macro Analyst: stance neutral->bullish; score 58->70 (+12).
- Portfolio Manager: +2 bearish signal(s).
- Risk Analyst: +1 bearish signal(s).
- Value Analyst: +1 bearish signal(s).
Comparing 2026-07-31 to 2026-08-01 (1 day apart).
Technical Analysis
RSI (14)
59.8
Neutral
MACD Histogram
0.506
Bullish Momentum
Trend Direction
Sideways
Weekly: Downtrend
Market Structure
Mixed
Support
$54.68
Resistance
$55.27
Bollinger %B
0.79
Inside Bands
Price vs Moving Averages
EMA 9
$53.42
Above
EMA 21
$51.24
Above
EMA 50
$49.33
Above
EMA 200
$54.57
Above
Fundamental Analysis
Valuation
51
Growth
83
Profitability
0
Financial Health
50
Cash Flow
37
Valuation
P/E Ratio
34.9×
P/B Ratio
5.89×
PEG Ratio
-0.49
Dividend Yield
0.00%
52W High
$86.65
52W Low
$40.16
Quality & Growth
ROE
16.1%
ROA
7.3%
Gross Margin
79.4%
Operating Margin
10.6%
Revenue Growth YoY
—
Debt / Equity
0.10
AI Fundamental Assessment
P/E ratio of 34.9 (rich relative to a 15-40x range); Price-to-book of 5.9x; PEG ratio of -0.5 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 0.2%; Return on assets of 0.1%; Net margin of 0.1%; Gross margin of 0.8%; Current ratio of 0.66 (tight short-term liquidity); Debt-to-equity of 0.10; Free cash flow margin of 0.9% (thin cash generation); Free cash flow per share is positive (5.73); Most recent quarter beat estimates by 7.8%; 4 consecutive earnings beats; EPS growth accelerating (+0.0% -> +7.9% QoQ); Analyst estimates rising over recent quarters
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