DocuSign (NASDAQ:DOCU) Receives Neutral Rating from Wedbush

DocuSign (NASDAQ:DOCU)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a research report issued on Friday,Benzinga reports. They currently have a $100.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 16.91% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Piper Sandler upped their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Citigroup reissued a “buy” rating on shares of DocuSign in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average target price of $96.25.

DocuSign Price Performance

DocuSign stock traded up $10.84 during trading hours on Friday, hitting $85.54. The stock had a trading volume of 3,602,425 shares, compared to its average volume of 2,210,246. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86. The stock’s fifty day moving average is $88.06 and its two-hundred day moving average is $79.04. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 6.94 and a beta of 1.02.

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

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the sale, the director now owns 7,736 shares in the company, valued at $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,422 shares of company stock worth $9,665,394 in the last three months. 1.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE boosted its position in shares of DocuSign by 12.6% in the third quarter. US Bancorp DE now owns 3,561 shares of the company’s stock worth $221,000 after purchasing an additional 398 shares during the period. Apollon Wealth Management LLC bought a new position in shares of DocuSign during the third quarter worth $203,000. Sumitomo Mitsui Trust Group Inc. grew its stake in DocuSign by 10.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,113 shares of the company’s stock valued at $29,500,000 after acquiring an additional 44,615 shares in the last quarter. Victory Capital Management Inc. lifted its stake in DocuSign by 211.4% in the 3rd quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock worth $25,449,000 after purchasing an additional 278,252 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of DocuSign by 9.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock worth $338,000 after buying an additional 481 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

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.