Stock Alert: DocuSign Up 8% After Q4 Results

(RTTNews) - Shares of DocuSign, Inc. (DOCU) gained nearly 8% on Friday morning trade. The company on Thursday had reported a fourth-quarter earnings and revenue that trumped Wall Street analyst estimates reflecting strong demand for its software. The company's revenue and billings outlook also came in above expectations. DOCU is currently trading at $74.06, up $5.38 or 7.83%, on the Nasdaq. The stock is up over 30% from last year. The company reported a fourth-quarter loss of $47.4 million or $0.26 per share, compared with a loss of $66.2 million $0.40 per share last year. Adjusted earnings were $0.12 cents per share, up from $0.06 per share in the year-ago period. Revenues rose to $274.9 million from $199.7 million in the year-ago period. Analysts expected DocuSign earnings of $0.05 per share on sales of $266.5 million for the period. For the first quarter, the company expects total revenues of $280 million to $284 million. Analysts currently expects revenue of $275.73 million.

Stocks rallied on Friday as Wall Street recovered some of the losses suffered in the previous session.