DocuSign's New Strategy Looks Just Like Its Old Strategy

DocuSign is profitable on a generally accepted accounting principles (GAAP) basis and generates plenty of free cash flow, and the stock doesn't look unreasonably priced. The company generated about $888 million in free cash flow last year, which puts its price-to-free cash flow ratio at about 12. However, there are a few problems. DocuSign (DOCU -4.67%) was one of the best-positioned companies to benefit from the pandemic. The company's e-signature platform boomed as industries that had resisted the technol ...