DocuSign slumps on FY26 billings forecast cut

** Shares of virtual document signing platform DocuSign DOCU slump almost 17% to $77

** Co lowers FY 2026 billings forecast to between $3.29 bln and $3.34 bln from its prior range of $3.30 bln to $3.35 bln

** Co's Q1 billings of $739.6 mln also miss estimates

** JP Morgan lowers stock PT to $77 from $81, says it expects co's shares to be in "penalty box" as investors assess whether billings miss is temporary

** "Many investors expect (DocuSign) to be beating and raising while making progress toward recapturing double-digit growth over time, our sense is that these results this quarter will set back those aspects of the narrative" - brokerage

** Five out of 23 analysts rate stock "buy" or higher, 17 "hold" and one "sell"; Median PT is $87.56

** As of last close, DOCU was up 3.3% YTD