Analysts Set DocuSign, Inc. (NASDAQ:DOCU) PT at $63.40

DocuSign, Inc. (NASDAQ:DOCU) has been assigned an average rating of “Hold” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $65.80.

A number of analysts have weighed in on DOCU shares. Bank of America increased their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Citigroup lifted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JMP Securities upped their price objective on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research report on Friday. Robert W. Baird raised their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada increased their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the sale, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the transaction, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock valued at $4,272,768 over the last quarter. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Large investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV boosted its position in DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign in the third quarter valued at about $28,000. Mather Group LLC. raised its holdings in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares during the period. Brooklyn Investment Group acquired a new position in DocuSign during the 3rd quarter worth approximately $33,000. Finally, Reston Wealth Management LLC purchased a new position in DocuSign in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Up 3.6 %

DOCU stock opened at $83.03 on Thursday. The business has a 50 day moving average price of $69.47 and a 200 day moving average price of $60.25. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 8.48 and a beta of 0.90. DocuSign has a fifty-two week low of $42.13 and a fifty-two week high of $83.68.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. DocuSign’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. As a group, sell-side analysts anticipate that DocuSign will post 1.01 EPS for the current year.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.