Brokerages Set DocuSign, Inc. (NASDAQ:DOCU) Target Price at $60.25

DocuSign, Inc. (NASDAQ:DOCU) has been given an average recommendation of “Hold” by the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $60.25.

Several brokerages have recently issued reports on DOCU. JMP Securities reissued a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $59.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Morgan Stanley raised DocuSign from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. Finally, UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and upped their price target for the stock from $48.00 to $62.00 in a research report on Friday, April 12th.

DocuSign Stock Down 2.0 %

DOCU opened at $58.31 on Friday. The company has a fifty day simple moving average of $57.51 and a 200 day simple moving average of $53.63. The stock has a market cap of $11.98 billion, a P/E ratio of 161.98, a P/E/G ratio of 5.17 and a beta of 0.88. DocuSign has a 12 month low of $38.11 and a 12 month high of $64.76.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The company had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. On average, equities research analysts expect that DocuSign will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 499 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the sale, the director now owns 6,169 shares in the company, valued at $326,895.31. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other DocuSign news, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the transaction, the director now owns 6,169 shares of the company’s stock, valued at $326,895.31. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephen Shute sold 15,109 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the sale, the insider now directly owns 8,959 shares of the company’s stock, valued at $510,842.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,277 shares of company stock worth $3,159,756. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Coatue Management LLC acquired a new stake in shares of DocuSign during the 4th quarter worth about $288,274,000. Norges Bank acquired a new stake in DocuSign during the fourth quarter worth approximately $133,826,000. AQR Capital Management LLC boosted its holdings in shares of DocuSign by 147.4% during the third quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock worth $80,157,000 after acquiring an additional 1,136,948 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in shares of DocuSign by 166.4% during the third quarter. Jupiter Asset Management Ltd. now owns 1,344,703 shares of the company’s stock worth $56,478,000 after acquiring an additional 839,883 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of DocuSign by 77.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock valued at $51,057,000 after purchasing an additional 531,682 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

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.