DocuSign’s (DOCU) better-than-expected fiscal fourth-quarter results demonstrated continued robustness in its core technology, as the company saw improvements in the reach of its go-to-market initiatives and in the operating leverage of its business model, Wedbush Securities said in a Friday client note. The electronic signature firm late Thursday recorded an 8% gain in revenue for the quarter ended Jan. 31 to $712.4 million, topping the Capital IQ-polled consensus of $699.4 million. The topline surpassed the company’s own guidance as it saw further momentum with product innovation and customer growth globally, according to Wedbush. Billings advanced 13% on an annual basis to $833.1 million, with the company benefiting from spillovers from the prior three-month period. DocuSign also experienced renewal strength in the quarter with sharp use cases across the small- and medium-sized business and enterprise landscape, the brokerage said. Wedbush maintained its neutral rating on the company’s stock and lifted the

By Angela Palumbo DocuSign stock was climbing Friday as analysts praised the electronic-signature company’s earnings but remained cautious about its near-term prospects. Shares of DocuSign were rising 9% in premarket trading Friday to $58.40. Coming into the session, the stock has gained 7.8% over the last 12 months has fallen 10% so far this year. Fourth-quarter earnings were a “big step in the right direction for the DOCU story,” Wedbush analyst Dan Ives said in a research note. He raised his price target on the stock to $65 from $56, while maintaining a Neutral rating. DocuSign reported fourth-quarter earnings, revenue, and bookings that beat analysts’ estimates after the stock market closed Thursday, and also issued better-than-expected revenue guidance. “We substantially increased the amount of business from customers signing and renewing multiyear multimillion dollar contracts with DocuSign,” Chief Executive Allan Thygesen said on the company’s earnings conference call. DocuSign also discussed