(Bloomberg) — DocuSign Inc. shares tumbled more than 25% in extended trading Thursday after the e-signature company gave a revenue forecast for the current period that missed analysts’ estimates, stoking concerns about slowing growth after the Covid-19 pandemic fueled a surge in demand in 2020.
If the drop holds through Friday’s close, it would be the worst one-day decline after earnings for DocuSign shares ever, according to data compiled by Bloomberg.
“After six quarters of accelerated growth, we saw customers return to more normalized buying patterns,” DocuSign Chief Executive Officer Dan Springer said in a statement.
The company also reported billings for the fiscal third quarter that fell short of analysts’ projections. Quarterly adjusted profit and revenue came in stronger than expected.
DocuSign shares are up just 5.2% this year through Thursday’s close after tripling in 2020.
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