DocuSign (NASDAQ:DOCU) Price Target Raised to $108.00

DocuSign (NASDAQ:DOCU) had its target price increased by JMP Securities from $84.00 to $108.00 in a research note published on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other brokerages also recently commented on DOCU. Bank of America upped their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada upped their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” 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. Robert W. Baird upped their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $65.80.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $85.51 on Friday. The company’s fifty day moving average is $70.04 and its two-hundred day moving average is $60.46. DocuSign has a 1-year low of $42.13 and a 1-year high of $86.50. The stock has a market capitalization of $17.36 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 8.79 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million for 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 revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. Sell-side analysts expect that DocuSign will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the sale, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. This represents a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of DocuSign stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the transaction, the chief financial officer now directly owns 78,265 shares in the company, valued at $5,384,632. This represents a 10.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DOCU. J.W. Cole Advisors Inc. grew its holdings in shares of DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after acquiring an additional 155 shares during the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of DocuSign by 0.9% during the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock valued at $1,088,000 after purchasing an additional 157 shares during the last quarter. Optimist Retirement Group LLC boosted its position in shares of DocuSign by 3.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after purchasing an additional 161 shares during the period. V Square Quantitative Management LLC increased its stake in DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after purchasing an additional 172 shares in the last quarter. Finally, Dakota Wealth Management raised its holdings in DocuSign by 0.8% during the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after buying an additional 181 shares during the period. Institutional investors own 77.64% of the company’s stock.

About DocuSign

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.