DocuSign (NASDAQ:DOCU) shares closed 5.26% higher on Friday after the company reported a Q2 beat, with total revenue coming in at $511.8 million (growth of 50% year-over-year), better than the consensus estimate of $487.5 million. Quarterly subscription revenue was $493 million, increasing 52% year-over-year, and beating the Street estimate of $467 million. EPS came in at $0.47, above the $0.40 Street estimate.

The company provided Q3 and full 2022-year guidance, expecting revenue of $526 million - $532 million for Q3 and between $2.078 and $2.088 billion for full-year, both better than the consensus estimates.

Analysts at Oppenheimer raised their price target on DocuSign to $310 from $260, noting that the quarterly beat was marked by robust growth and strong cash collections offset by the effects of a very difficult year-over-year billings comparison and signs of a moderating beat/raise magnitude, as the company begins lapping the 2020 COVID-19 benefits.