Brokerages Set Docusign Inc. (NASDAQ:DOCU) PT at $61.40

Shares of Docusign Inc. (NASDAQ:DOCU) have earned an average rating of “Hold” from the nineteen ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $61.40.

A number of research analysts have commented on DOCU shares. Robert W. Baird decreased their price objective on Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Piper Sandler decreased their price objective on Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. JPMorgan Chase & Co. decreased their price objective on Docusign from $78.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. HSBC set a $53.00 price objective on Docusign in a research report on Friday, February 13th. Finally, Royal Bank Of Canada reduced their price target on Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 18th.

Docusign Price Performance

DOCU stock opened at $52.52 on Monday. The business has a fifty day moving average price of $47.23 and a 200 day moving average price of $54.72. Docusign has a fifty-two week low of $40.16 and a fifty-two week high of $94.67. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 1.89 and a beta of 0.88.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The firm had revenue of $836.86 million during the quarter, compared to analysts’ expectations of $828.23 million. During the same period last year, the firm posted $0.86 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Docusign will post 1.76 earnings per share for the current fiscal year.

Docusign declared that its board has initiated a stock buyback program on Tuesday, March 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 21% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 16,696 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total value of $803,077.60. Following the transaction, the insider directly owned 72,458 shares in the company, valued at $3,485,229.80. This trade represents a 18.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $47.78, for a total value of $1,254,225.00. Following the completion of the transaction, the chief executive officer owned 152,237 shares in the company, valued at $7,273,883.86. This represents a 14.71% 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. Insiders sold 64,309 shares of company stock worth $3,061,570 over the last three months. Insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Central Pacific Bank Trust Division bought a new position in shares of Docusign in the 4th quarter worth $25,000. Modus Advisors LLC bought a new position in Docusign during the fourth quarter worth about $27,000. Torren Management LLC bought a new position in Docusign during the fourth quarter worth about $28,000. Aventura Private Wealth LLC bought a new position in Docusign during the fourth quarter worth about $30,000. Finally, True Wealth Design LLC lifted its holdings in Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after acquiring an additional 222 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

About Docusign

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.