Is DocuSign, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for DocuSign, Inc. has moved from fair to expensive, indicating a shift towards overvaluation. The company is currently overvalued, as evidenced by a P/E ratio of 14, a Price to Book Value of 7.57, and an EV to EBITDA ratio of 34.23. In comparison to its peers, F5, Inc. has a more attractive P/E ratio of 27.18 and an EV to EBITDA of 19.03, while Gen Digital Inc. shows a fair valuation with a P/E of 30.81 and an EV to EBITDA of 12.62.
DocuSign's recent stock performance has been underwhelming, with a year-to-date return of -24.47% compared to the S&P 500's positive return of 13.30%, reinforcing the notion of its overvaluation in the current market environment.