Docusign (NASDAQ:DOCU) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Docusign (NASDAQ:DOCU) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday.

A number of other research analysts have also recently issued reports on the company. Jefferies Financial Group lifted their price target on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, June 5th. Citigroup increased their price objective on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Wells Fargo & Company lowered their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. BTIG Research dropped their target price on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Finally, Wedbush reduced their target price on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Docusign presently has an average rating of “Hold” and an average price target of $60.27.

Docusign Price Performance

NASDAQ:DOCU opened at $54.83 on Friday. The firm has a market cap of $10.47 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 1.62 and a beta of 0.90. Docusign has a 12 month low of $40.16 and a 12 month high of $86.65. The company’s 50-day moving average price is $48.42 and its two-hundred day moving average price is $48.32.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. On average, research analysts expect that Docusign will post 2.03 EPS for the current fiscal year.

Insider Activity

In related news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the sale, the executive directly owned 89,972 shares in the company, valued at $4,097,324.88. This trade represents a 6.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the completion of the sale, the insider owned 72,805 shares in the company, valued at $3,131,343.05. This represents a 17.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 76,695 shares of company stock valued at $3,476,002. Insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On Docusign

Large investors have recently bought and sold shares of the company. NewEdge Advisors LLC grew its position in shares of Docusign by 36.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after purchasing an additional 2,457 shares during the period. Guggenheim Capital LLC increased its position in shares of Docusign by 6.7% during the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after acquiring an additional 729 shares in the last quarter. State Street Corp raised its holdings in shares of Docusign by 3.0% during the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after acquiring an additional 236,494 shares during the period. Sei Investments Co. raised its holdings in shares of Docusign by 60.7% during the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after acquiring an additional 15,247 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in Docusign by 51.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock worth $14,735,000 after purchasing an additional 63,911 shares during the period. 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.