10 Stocks Took a Shocking Nosedive

2. DocuSign, Inc. (NASDAQ:DOCU)

DocuSign dropped its share prices by 18.97 percent on Friday to end at $75.28 apiece after slashing its full-year billing outlook amidst its shift to an artificial intelligence model.

For the full year period, DocuSign, Inc. (NASDAQ:DOCU) now expects billings to settle in the range of $3.285 billion to $3.339 billion, down from its previous outlook of $3.30 billion to $3.354 billion.

According to DocuSign, Inc. (NASDAQ:DOCU) CEO Allan Thygesen, the decline in billings this year was expected due to “foundational go-to-market changes” following the adoption of Intelligent Agreement Management, an AI-driven agreement platform.

However, Thygesen said that “the impact happened sooner than anticipated,” causing the drop in early renewals during the first quarter period, and negatively impacting billings growth.

In the first quarter of the year, DocuSign, Inc. (NASDAQ:DOCU) achieved a 118-percent jump in net income to $72 million from $33 million in the same period last year.

Revenues increased by 7.6 percent to $763 million from $709 million year-on-year.