Analysts, Bears Target Docusign Stock Despite Beat-and-Raise

Group 1 - DocuSign Inc's shares have decreased by 6.5%, trading at $66.46, despite reporting adjusted third-quarter earnings of $1.01 per share and revenue of $818.40 million, both exceeding analyst expectations [1] - The company raised its full-year sales guidance, but some analysts, including Wedbush, view the outlook as "conservative" [1] - Following the earnings report, four brokerages, including UBS, Wedbush, and Wells Fargo, reduced their price targets for the stock from $85 to $75, reflecting skepticism as 14 out of 19 brokerages maintain a "hold" rating [1] Group 2 - DocuSign is experiencing its worst single-day percentage loss since September, ending a three-day winning streak, and has dropped over 26% year-to-date, previously hitting a 52-week low of $63.41 [2] - The stock's rallies have been constrained by resistance at the 60-day moving average [2] Group 3 - There has been an increase in the popularity of put options, with the 10-day put/call volume ratio ranking higher than 89% of readings from the past year [3] - Today's trading activity shows 15,000 calls and 16,000 puts have been executed, which is 14 times the typical volume for this time [4] - The most active contract is the expiring weekly 12/5 65-strike put, indicating new positions are being opened [4]