Guided by conservative estimates, DocuSign (DOC.US) has had its target price downgraded by major Wall Street banks.

According to the 36Kr Finance APP, electronic signature service provider DocuSign (DOCU.US) fell nearly 7% in early trading on Friday, despite the company announcing what some analysts called a "solid" third-quarter performance and guidance. Several Wall Street institutions still lowered their target price, putting pressure on market sentiment.