RH Stock Drops & DOCU Beats Earnings

RH (RH) drops after earnings and warns of a challenging economy and housing market. RH’s adjusted EPS came in at $3.93 versus an estimated $2.63 and its revenue came in at $800.00M versus an estimated $777.89M. Its revenue growth came in at -19.3% and gross margin came in at 47.5%. The CEO expects the luxury housing market to remain challenging through FY23. BofA lower an RH price target to $415 from $425 and keeps its buy rating. Renita Young discusses this, as well as DocuSign’s (DOCU) earnings. DOCU beats on earnings and raises guidance. Its adjusted EPS came in at $0.72 versus an estimated $0.65 and revenue came in at $687.70M versus an estimated $676.79M. BofA lowers DOCU’s price target to $60 from $72 and keeps its neutral rating. Tune in to find out more about the stock market today.