DocuSign shares rise premarket on e-signature group's inclusion in S&P MidCap 400 By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 08 2024
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Source: Investing.com
DocuSign's Market Movement: DocuSign shares rose over 5% after being announced as a replacement for MDU Resources in the S&P MidCap 400, with changes effective from October 11. The company also reported strong second-quarter earnings and raised its revenue forecast for the third quarter.
CEO's Optimism and New Launch: CEO Allan Thygesen emphasized improved business stability and efficiency, highlighting the successful launch of their AI-powered contract management platform, Intelligent Agreement Management (IAM), which is expected to expand further throughout the fiscal year.
Analyst Views on MDU
Wall Street analysts forecast MDU stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MDU is 21.00 USD with a low forecast of 20.00 USD and a high forecast of 22.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 20.420
Low
20.00
Averages
21.00
High
22.00
Current: 20.420
Low
20.00
Averages
21.00
High
22.00
About MDU
MDU Resources Group Inc. provides electric and natural gas distribution services across the Pacific Northwest and Midwest. The Company's segments include electric, natural gas distribution and pipeline. Its electric segment provides electric service at retail, serving residential, commercial, industrial and municipal customers in approximately 185 communities and adjacent rural areas. It has interests in approximately 14 electric generating units at 11 facilities and two small portable diesel generators. Its natural gas distribution segment sells natural gas at retail, serving residential, commercial and industrial customers in approximately 339 communities and adjacent rural areas across eight states. Its pipeline segment operates a more than 3,800-mile natural gas pipeline network and storage system, ensuring energy delivery across the Northern Plains. Its underground storage fields provide natural gas storage services to local distribution companies, industrial customers and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
