DocuSign's stock is trading at $48.30 with a market capitalization of $8 billion. It had touched a 52-week high of $68.35 in August last year.

DocuSign has only been public for a few months. During that time, we have seen this stock move up and down sharply, and now it appears ready to make another run higher.

DocuSign reported first-quarter 37% growth in revenue to $155.8 million. GAAP net loss was $270.68 million or $7.46 a share compared with losses of $19.4 million, or $0.66 a share a year ago.

June could end up being the busiest month of initial public offerings in three years. Many investors have been anticipating IPOs from some of the most well known and visible tech firms in the U.S., with Airbnb and Uber standing above the rest.