Docusign · Tech
DOCU
$52.74
Docusign, Inc. is an American software company headquartered in San Francisco, California that provides products for organizations to manage electronic agreements and contract lifecycle processes with electronic signatures and AI supported data extraction on different devices.Docusign,Inc.是一家美国软件公司，总部位于加利福尼亚州旧金山，为组织提供跨设备的电子签名、人工智能辅助数据提取以及电子协议和合同生命周期管理产品。
Quality compounder优质复利股
Large cap大盘
$10B
Engine stance引擎立场2026-07-20
Extended — don't chase; wait for a pullback过度拉升 — 勿追高；等待回撤
You missed the bottoming entry — the low already formed and price is now extended (momentum is fading — the daily moment已错过筑底入场——低点已经形成，目前价格已拉伸（动量正在衰竭——日线动量已开始掉头向下）。不要追高；等待回调至 10 日均线或下一个周期低点。若已持有则继续持有。
Key Statistics关键统计
Price价格
$52.74
38.0% below 52-week high低于52周高点 38.0%
Market Cap市值
$10B
Normal volume正常成交量
P/E Ratio市盈率
33.7x
40.2x sector median
Beta贝塔
0.75
Moves about 0.8x the market波动幅度约为市场的 0.8 倍
RSI (14)RSI（14）
67
Elevated偏高
Volatility Rank波动率分位
34th pctile
hist. vol. percentile历史波动率分位数
Short Interest空头兴趣
7.3% of float
Performance价格表现
| Period周期 | DOCU | S&P 500 | vs Index对比指数 |
|---|---|---|---|
| 1 Week近1周 | +7.2% | -1.5% | Beat the index by 8.7 points跑赢指数 8.7 个百分点 |
| 1 Month近1月 | +23.9% | +0.6% | Beat the index by 23.3 points跑赢指数 23.3 个百分点 |
| 3 Months近3月 | +15.3% | +4.7% | Beat the index by 10.6 points跑赢指数 10.6 个百分点 |
| 6 Months近6月 | -7.0% | +7.8% | Lagged the index by 14.8 points落后指数 14.8 个百分点 |
| Year to date年初至今 | -18.7% | +9.1% | Lagged the index by 27.8 points落后指数 27.8 个百分点 |
| 1 Year近1年 | -32.1% | +19.4% | Lagged the index by 51.5 points落后指数 51.5 个百分点 |
| 3 Years近3年 | -2.0% | +69.4% | Lagged the index by 71.4 points落后指数 71.4 个百分点 |
Technicals技术面
RSI (14)RSI（14）
67
Elevated偏高
vs 50-day相对50日均线
+11.0% vs 50-day avg
vs 200-day相对200日均线
-5.1% vs 200-day avg
Volatility rank波动率分位
34th percentile 分位
Engine reference levels — not advice引擎参考水平 — 非投资建议
Buy zone买入区间
$48.52
Don't chase above不追高于
$52.74
Stop止损
$42.46
Extended — wait for a pullback过度拉伸 — 等待回撤
Earnings财务业绩
Estimates being raised — 20 analysts预期上调 — 20 位分析师
Earnings call transcripts — coming soon财报电话会议记录 — 即将上线
Valuation估值
| Multiple指标 | DOCU | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（历史） | 33.74x | 40.17 | 54% |
| P/B市净率 | 5.44x | 5.85 | 52% |
| P/S市销率 | 3.24x | 4.85 | 65% |
| Earnings yield盈利收益率 | 2.96% | 2.19 | 61% |
| FCF yield自由现金流收益率 | 10.15% | 3.05 | 92% |
| Shareholder yield股东收益率 | 8.33% | 2.16 | 89% |
| EV/EBITDA企业价值/EBITDA | 23.70x | 29.30 | 57% |
| P/FCF市值/自由现金流 | 9.85x | 30.46 | 90% |
Analyst price targets — coming soon分析师目标价 — 即将上线
Financials财务数据
Revenue营业收入
5yr CAGR5年复合增速: 17.2%
Earnings Per Share每股收益
Free Cash Flow自由现金流
Margins利润率
16.1%Return on Equity股本回报率
7.3%Return on Assets资产回报率
Leverage杠杆
| Net debt / EBITDA净债务/EBITDA | -1.45 |
| Current ratio流动比率 | 0.73 |
Capital Allocation资本配置
| Buybacks (TTM)回购（TTM） | $869.1M |
| Stock-based comp股权薪酬 | $622.3M |
| Share count change (1y)股数变化（1年） | -2.3% |
Piotroski皮奥特罗斯基 6/8
Altman Z阿尔特曼Z: grey (2.9)
Clean稳健
Snapshot Gauges综合指标
Valuation vs Sector估值相对行业
Looks cheap vs sector相对行业偏便宜
Cheaper than 64% of its sector on blended multiples综合估值倍数低于行业内 64% 的公司
Beta市场敏感度
0.75×
0.21×3×
Moves about 0.8× the market波动幅度约为市场的 0.8 倍
Financial Health财务健康
6/8
Altman阿尔特曼: grey
Adequate financial health财务健康状况一般
Dividend分红
—
Does not pay a dividend不派发股息
Why Is It Moving为何波动
Sector / Theme行业/主题
Non-AI Software theme — #14 of 46 themes「非AI软件」主题 — 46 个主题中第 14 位
Macro宏观
Rate risk runs through its market / growth beta, not a distinct duration leg.其利率风险通过市场／成长beta体现，并无独立的久期暴露。
Positioning持仓
Insider cluster activity内部人集中交易
Technical技术面
DOCU RSI reached overboughtDOCU RSI进入超买
Options Positioning期权持仓
Market makers are net long gamma — price pinned near current level做市商净持有正伽玛，价格倾向于在当前水平附近震荡
Expected daily move预期日波动
±3.08%
Expected weekly move预期周波动
±6.90%
Call wall看涨密集区
$55
Put wall看跌密集区
$48
Gamma flip伽玛翻转
$44
25d risk reversal25d风险逆转
0.2%
Flow资金流向
$4M premium traded; 0% 0DTE; 51 fresh positions; P/C 0.39; ~leans bullish (direction approx)成交权利金 $4M；0DTE占0%；51个新建仓；看跌看涨比 0.39；≈偏看涨（方向近似）
Skew: 偏斜：balanced
Ownership & Smart Money持仓与聪明钱
Insider activity内部人员活动: -$10.5M net (0 buyers, 8 sellers)-$10.5M 净值（0 买家，8 卖家）
| Fund基金 | Grade评级 | Activity动作 | % of portfolio组合占比 | As of截至 |
|---|---|---|---|---|
| Duquesne Family Office (Druckenmiller) | C | exitexit | 0.0% | 2026-03-31 |
Signal History信号历史
TOP WATCH
NEARING A HIGH
Jul 16, 2026
DOCU RSI reached overboughtDOCU RSI进入超买
RSI(14) crossed above 70 — stretched to the upside; context, not a timing trigger alone. $53.38.RSI(14)上穿70 — 上行过度；仅作背景，单独不构成择时。$53.38。
Jul 15, 2026
BOTTOMING → UPTREND筑底中 → 上涨趋势
HOLD持有
Jul 10, 2026
BUY ZONE → BOTTOMING买入区 → 筑底中
BUY SETUP买入预备
Jul 6, 2026
BOTTOMING → BUY ZONE筑底中 → 买入区
BUY买入
Jul 1, 2026
NEARING A HIGH → BUY ZONE接近高点 → 买入区
BUY买入
Jun 30, 2026
DOCU broke down vs the marketDOCU 相对市场走弱
Relative strength vs SPY crossed below the 10th percentile of the last 90 days — weakness often leads price. $44.42.相对标普500的强弱下穿近90日的第10百分位 — 走弱常先于价格。$44.42。
Jun 30, 2026
DOCU daily MACD crossed upDOCU 日线MACD上穿
The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $44.42.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$44.42。
Jun 29, 2026
BUY ZONE → NEARING A HIGH买入区 → 接近高点
TAKE PROFITS止盈
Showing last 15 of显示最近15条，共 240 signals条信号
Factor Profile因子特征
Composite factor score综合因子得分: 0.72
Value价值
-0.5
Profitability盈利能力
+1.6
Quality质量
+2.4
Investment资本投入
+0.2
Shareholder payout股东回报
+1.1
Low volatility低波动
-0.5
Low market beta低市场敏感度
+0.1
Earnings quality盈利质量
+2.7
Short interest空头兴趣
+0.2
Company Profile公司档案
Docusign, Inc. is an American software company headquartered in San Francisco, California that provides products for organizations to manage electronic agreements and contract lifecycle processes with electronic signatures and AI supported data extraction on different devices.Docusign,Inc.是一家美国软件公司，总部位于加利福尼亚州旧金山，为组织提供跨设备的电子签名、人工智能辅助数据提取以及电子协议和合同生命周期管理产品。
Demand chain:需求链： Contracted bookings (RPO) flat (+0% YoY to ~$2B, 0.7× revenue) — signed demand locked in ahead of recognition已签约订单（RPO）持平（同比+0%，约 $2B，覆盖营收 0.7 倍）——已锁定、尚未确认的需求
Watch items — what could change the thesis关注项 — 可能改变论点的因素
- Receivables stretch
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