1 Glorious Growth Stock Down 78% to Buy on the Dip in September
This company could spur sales growth by leaning further into artificial intelligence.
Overview
When the COVID-19 pandemic triggered widespread lockdowns and social restrictions in 2020, businesses turned to Docusign (NASDAQ: DOCU) to help them remotely draft, negotiate, and close commercial agreements. The soaring demand for its platform drove its stock to a record high of $310 in late 2021, a whopping tenfold increase from its initial public offering (IPO) price of $29 just three years earlier.
But Docusign suffered a sharp slowdown in demand for its platform when social conditions mostly returned to normal in 2022, and its sales growth has been sluggish ever since. As a result, its stock is down 78% from its peak, closing at $68.41 last Friday, Sept. 4.
Details
But this might be a great long-term opportunity for investors, because Docusign's new Intelligent Agreement Management (IAM) platform could be the key to turning its fortunes around. It uses artificial intelligence (AI) to transform contract management processes for businesses, and it's proving to be very popular with customers.
Source
Originally published at www.fool.com.