DocuSign (NASDAQ:DOCU) Given Market Outperform Rating at JMP Securities

DocuSign (NASDAQ:DOCU)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a research report issued on Thursday,Benzinga reports. They presently have a $124.00 price target on the stock. JMP Securities’ target price indicates a potential upside of 64.99% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group lowered their price target on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, March 31st. HSBC raised DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price target on the stock in a research report on Friday, April 11th. Robert W. Baird set a $93.00 target price on DocuSign in a research note on Friday, March 14th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and increased their price target for the company from $70.00 to $75.00 in a research note on Monday, March 10th. Finally, Hsbc Global Res upgraded DocuSign from a “moderate sell” rating to a “hold” rating in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus price target of $93.46.

DocuSign Stock Down 1.6 %

NASDAQ:DOCU traded down $1.23 during midday trading on Thursday, hitting $75.16. The stock had a trading volume of 104,398 shares, compared to its average volume of 2,720,721. The stock has a 50-day moving average of $81.91 and a 200 day moving average of $82.91. The company has a market capitalization of $15.22 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 6.94 and a beta of 1.20. DocuSign has a one year low of $48.70 and a one year high of $107.86.

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

Insider Transactions at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total transaction of $608,720.00. Following the sale, the chief financial officer now directly owns 86,156 shares in the company, valued at $6,555,610.04. This trade represents a 8.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated 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. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,851 shares of company stock valued at $4,607,439 in the last 90 days. 1.66% of the stock is currently owned by company insiders.

Institutional Trading of DocuSign

A number of institutional investors and hedge funds have recently made changes to their positions in DOCU. FMR LLC grew its stake in DocuSign by 178.2% in the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock valued at $548,726,000 after acquiring an additional 3,908,139 shares during the period. American Century Companies Inc. grew its position in shares of DocuSign by 18.5% in the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after purchasing an additional 831,611 shares during the period. Jericho Capital Asset Management L.P. lifted its stake in DocuSign by 34.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock valued at $427,642,000 after buying an additional 1,205,500 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in DocuSign by 4.9% in the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock worth $392,434,000 after buying an additional 205,304 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in DocuSign by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock worth $335,147,000 after buying an additional 249,179 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

About DocuSign

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.