Core Insights - DocuSign (DOCU) stock has declined 10.7% year to date in 2025, despite a positive second quarter in fiscal 2026, indicating a challenging market environment [1] - Wall Street analysts predict a potential recovery for DOCU, with a target price increase of 50% to reach $125 [2] - The company is valued at $16.5 billion and focuses on eSignature and agreement management solutions, enhancing transaction efficiency and security [2] Financial Performance - In the second quarter, DocuSign reported a 9% year-over-year revenue increase to $801 million, driven by a 13% rise in billings, marking one of the strongest growth quarters in two years [2] - The CFO highlighted that growth was fueled by direct customer demand, improved gross retention, early renewals, and a shift to yearly billing contracts [3] - Dollar net retention improved to 102%, reflecting better gross retention and increased customer utilization [3] Product Development - The introduction of DocuSign Intelligent Agreement Management (IAM), an AI-native platform, is a key focus, expanding beyond traditional e-signature and contract lifecycle management [4] - Enterprise adoption of IAM is increasing, with over half of enterprise representatives closing at least one IAM deal in Q2 [4] - DocuSign anticipates that IAM customers will represent a low double-digit percentage of its total customer base by the end of the year [4]