Docusign Inc. (NASDAQ:DOCU) Receives $64.67 Consensus Target Price from Analysts

Shares of Docusign Inc. (NASDAQ:DOCU) have been assigned an average rating of “Hold” from the twenty-one brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $64.6667.

DOCU has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of Docusign from $120.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Piper Sandler reduced their target price on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Royal Bank Of Canada reduced their target price on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a report on Wednesday, March 18th. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a report on Tuesday, March 10th. Finally, Robert W. Baird reduced their target price on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th.

Docusign Stock Performance

Shares of Docusign stock opened at $47.36 on Friday. The company has a market capitalization of $9.21 billion, a PE ratio of 32.00, a P/E/G ratio of 1.88 and a beta of 0.99. The company has a 50-day simple moving average of $47.05 and a two-hundred day simple moving average of $61.03. Docusign has a one year low of $40.16 and a one year high of $94.67.

Docusign (NASDAQ:DOCU) last announced its earnings results on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $836.86 million during the quarter, compared to the consensus estimate of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. On average, equities analysts predict that Docusign will post 1.17 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has authorized a share buyback program on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 21% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Docusign

In other news, Director Mary Agnes Wilderotter sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total transaction of $144,450.00. Following the sale, the director owned 59,803 shares in the company, valued at approximately $2,879,514.45. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 16,696 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total value of $803,077.60. Following the sale, the insider owned 72,458 shares in the company, valued at $3,485,229.80. The trade was a 18.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 97,423 shares of company stock valued at $5,359,699. Insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Docusign

A number of large investors have recently modified their holdings of DOCU. NewEdge Advisors LLC grew its stake in shares of Docusign by 36.4% during the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock worth $749,000 after acquiring an additional 2,457 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Docusign by 24.4% during the second quarter. Prudential Financial Inc. now owns 24,255 shares of the company’s stock worth $1,912,000 after acquiring an additional 4,750 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Docusign by 8.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 12,463 shares of the company’s stock worth $971,000 after acquiring an additional 931 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new stake in Docusign in the second quarter valued at approximately $280,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Docusign in the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.