Docusign Inc (DOCU  ), which is scheduled to report its fourth-quarter earnings on Tuesday, is likely to deliver a revenue outperformance close to its historical range of 1.5%, according to Needham. The Docusign Analyst: Analyst Scott Berg reaffirmed a Hold rating on the stock.

The Docusign Thesis: The company is likely to report its results in-line with or modestly higher than expectations, Berg said in the note.

"We believe the purchasing environment and demand for the company's IAM platform remains positive and building, while demand for its Esignature solutions should be relatively consistent from recent quarters," the analyst wrote.

This is likely to have driven normalized billings of 7%-8% in the fourth quarter, he added.

The additional focus areas during the earnings call are likely to be:

• How the company moves from its Billings metric to ARR as a key performance indicator
• The new growth channel created by anthropic embedding Docusign into Claude Code