The latest CIOs survey indicates that most companies plan to “buy AI agents from app providers rather than custom building their own agents,” JPMorgan analyst Mark Murphy said in a note.
Ratings maintained ahead of fiscal second-quarter results:
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The DocuSign Preview: While DocuSign surpassed revenue growth expectations last quarter, its billings fell short, which was “attributed to the implementation of go-to-market adjustments,” Murphy said. “We are looking for datapoints that last quarter’s billings-related misstep was an anomaly,” he wrote.
There is uncertainty around the fiscal 2026 guidance, given the volatile macro environment, the analyst stated. Positive commentary is expected around customer traction for DocuSign’s Intelligent Agreement Management (IAM) offering, he further stated.
Docusign.net indicates a 7% sequential decline in unique visitor traffic for desktop and mobile combined, which represents a deceleration from the 2% decline and 4% growth in the second quarters of fiscal 2025 and 2024, respectively, Murphy said.
The UiPath Preview: Positive aspects such as operational improvements, AI-related investments, pipeline health, customer wins and early feedback on its Agentic solutions may be offset by ongoing volatility in the macro and policy environment and dampened investor sentiment regarding the impact of AI to incumbent software companies, the analyst stated.
“We will also be monitoring progress and traction with UiPath’s AI and Agentic suite of solutions, though we note that it will take time for the company to scale bookings with the new products and would not expect meaningful impact to revenue or ARR in the nearer-term as a result,” he further wrote.
DOCU, PATH Price Action: Shares of Docusign had risen by 2.24% to $75.72 at the time of publication on Wednesday, while UiPath’s stock had declined by 0.60% to $10.84.
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