Stock price when the opinion was issued
We have long thought someone should take over DOCU. While there is competition and not really a 'moat' anymore, it still has a solid 'brand'. Growth is slowing, but cash flow is solid and growing. It is 21X earnings right now, down 15% for the year but of course well off its pandemic highs. Its low is just below $50. We would likely get more interested in the $65 range.
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Their Q2 earnings beat. A pandemic darling that then crashed. But now it trades at a fair valuation and strong free cash flow. She bought it last September is up 35%. Trades at 16x PE and has a 8% free cash flow yield. Great managers who underpromise, so they will beat their quarter. Has real secular growth.