New York, Jan 2, 2026, 15:43 ET — Regular session
- DocuSign shares fell about 4% in afternoon trading, underperforming a mixed U.S. market.
- Software stocks were broadly weaker, with Adobe, Zoom and Dropbox also down on the day.
- Investors are looking ahead to DocuSign’s quarter ending Jan. 31 and its next earnings update expected in March.
DocuSign (DOCU.O) shares fell 4.4% to $65.38 in afternoon trade on Friday, after earlier swinging between $69.00 and $64.25. About 2.2 million shares had changed hands, compared with the stock’s previous close of $68.40.
The slide comes as Wall Street’s first session of 2026 turned cautious after last year’s strong run, with the S&P 500 and Nasdaq slipping from early gains. “Stocks trade expensive on 18 of 20 measures, and we see elevated risks to the index level in the near term,” Savita Subramanian, Bank of America’s equity and quant strategist, wrote in a note. 1
That matters for high-multiple software names because small shifts in rates and growth expectations can trigger outsized moves in valuations, even without company-specific headlines.
The pressure was visible across software peers. The iShares Expanded Tech-Software Sector ETF was down about 2.6%, while Adobe fell about 4.2%, Zoom lost about 3.4% and Dropbox slid about 2.8%.
DocuSign sells electronic signature and contract-management software, a corner of enterprise tech that investors tend to treat as a barometer for corporate spending on productivity tools.
The company’s most recent catalyst remains its quarterly update in early December, when it reported fiscal third-quarter results and laid out expectations for the period ending Jan. 31, 2026. DocuSign said it expected quarterly revenue of $825 million to $829 million and billings of $992 million to $1.002 billion, alongside a non-GAAP operating margin of 28.3% to 28.7%. 2
Billings — the total value of customer contracts signed in a period — is closely watched in subscription software because it can offer an early read on future revenue.
The next major checkpoint is the next earnings report, with Yahoo Finance’s earnings calendar listing DocuSign for March 12 after the close. 3
On that update, investors are likely to focus on whether billings land within the company’s range, whether subscription revenue tracks its outlook, and how management frames demand heading into its new fiscal year.
