11 Best High Growth Stocks to Buy Now

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10. DocuSign Inc. (NASDAQ:DOCU)

5-Year Revenue Growth Rate: 25.04%

Number of Hedge Fund Holders: 60

DocuSign Inc. (NASDAQ:DOCU) ranks among the best high growth stocks to buy now. Citing DocuSign Inc. (NASDAQ:DOCU)’s leading position in the e-signature sector, Citizens reaffirmed its Market Outperform rating and $124 price target on the company on December 5.

The adjustment comes after DocuSign’s Q3 financial statements, where the company exceeded expectations of $0.91 with earnings per share of $1.01. Revenue for the quarter came in at $818 million, slightly higher than the expected $807.1 million. The company also increased the midpoint of its billings outlook by $44 million.

According to CEO Allan Thygesen, “growing customer investment into the IAM platform” and “continued strong execution and improved efficiency” helped the company achieve one of its best profits and growth quarters in the previous two years.

Citizens also emphasized DocuSign’s solid 1.7 million consumer base and its capacity to serve a significant $50 billion total addressable market, which is split evenly among e-signature and contract lifecycle management solutions.

The firm highlighted Docusign’s Identity and Access Management (IAM) product as a strong long-term possibility, noting that it has expanded to more than 25,000 users from about 10,000 in April and is likely to account for a double-digit proportion of its subscription earnings in the following quarter.

DocuSign Inc. (NASDAQ:DOCU) provides an electronic signature and digital transaction management platform that enables businesses to prepare, sign, act on, and manage agreements electronically.

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