08:53 AM EDT, 09/06/2024 (MT Newswires) -- DocuSign's ( DOCU ) profitability was the "bright spot" in the company's "decent" fiscal Q2 results, RBC Capital Markets said in a note Thursday.

The firm noted that DocuSign's ( DOCU ) roughly 32% operating margin beat market expectations by 480 basis points and was up by 750 basis points from a year earlier.

"While the result was aided by [about 150 basis points] from a one-time insurance reimbursement and the release of a litigation reserve, we view this as a solid outcome," RBC said.

On the start of the general availability of DocuSign's ( DOCU ) Intelligent Agreement Management, RBC said any material contribution to growth in fiscal 2026 "would be a bull case."

RBC lifted DocuSign's ( DOCU ) price target to $57 from $52 and maintained its sector perform rating.

Price: 57.50, Change: +0.57, Percent Change: +1.00