Core Viewpoint - The analyst maintains a buy rating for DocuSign (DOCU), emphasizing that the company's go-to-market (GTM) pivot is not indicative of weakness, and expresses confidence that new products and Identity Access Management (IAM) will drive growth [1]. Group 1 - The investment thesis is based on the belief that DocuSign is undervalued and has long-term growth potential [1]. - The analyst's investment strategy combines value investing principles with a focus on long-term growth, aiming to acquire quality companies at a discount to their intrinsic value [1].