DocuSign, Inc. (NASDAQ:DOCU) Receives $95.00 Average PT from Brokerages

DocuSign, Inc. (NASDAQ:DOCU) has been assigned a consensus rating of “Hold” from the fifteen ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $95.00.

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $70.00 to $75.00 in a research note on Monday, March 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Wedbush restated a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price on shares of DocuSign in a report on Friday, March 14th.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $83.18 on Wednesday. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The business’s 50-day moving average is $87.18 and its 200-day moving average is $81.54. The company has a market capitalization of $16.84 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. Analysts anticipate that DocuSign will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares of the company’s stock, valued at $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the sale, the insider now directly owns 76,842 shares of the company’s stock, valued at $6,392,485.98. The trade was a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,851 shares of company stock valued at $8,579,369. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in DocuSign in the third quarter worth about $28,000. Kestra Investment Management LLC bought a new stake in shares of DocuSign in the 4th quarter worth approximately $30,000. Brooklyn Investment Group purchased a new position in DocuSign in the third quarter valued at approximately $33,000. Modus Advisors LLC bought a new position in DocuSign during the fourth quarter valued at $36,000. Finally, First Horizon Advisors Inc. increased its position in DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after buying an additional 201 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

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.