Docusign (NASDAQ:DOCU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage currently has a $60.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 13.70% from the company’s current price.
According to Zacks, “DocuSign Inc. provides e-signature solutions. The Company offers services to mortgage, non-profit, government, real estate, insurance, technology and healthcare industries. Its product portfolio includes trial, single-user, multi-user, business pro, enterprise pro, standards-based signatures, ehanko, DocuSign transaction rooms for real estate, DocuSign payments and enotary. DocuSign Inc. is based in San Francisco, United States. “
Several other brokerages also recently issued reports on DOCU. William Blair restated an “outperform” rating on shares of Vail Resorts in a research report on Friday, June 7th. FBN Securities assumed coverage on Docusign in a research report on Tuesday, July 9th. They set an “outperform” rating and a $60.00 price objective for the company. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Finally, Wedbush set a $17.00 price objective on Zumiez and gave the stock a “sell” rating in a research report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Docusign has an average rating of “Buy” and a consensus price target of $61.00.
Shares of Docusign stock traded down $0.85 during trading on Wednesday, hitting $52.77. 1,535,940 shares of the company were exchanged, compared to its average volume of 2,368,694. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.76 and a quick ratio of 1.76. Docusign has a fifty-two week low of $35.06 and a fifty-two week high of $68.35. The stock has a market cap of $9.17 billion, a PE ratio of -18.20 and a beta of 1.30. The stock has a 50 day moving average of $51.87.
Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.30. Docusign had a negative return on equity of 22.27% and a negative net margin of 26.54%. The firm had revenue of $213.96 million during the quarter, compared to the consensus estimate of $208.15 million. During the same period in the previous year, the firm posted $0.01 EPS. The company’s quarterly revenue was up 37.3% compared to the same quarter last year. As a group, research analysts forecast that Docusign will post -0.99 EPS for the current year.
In other news, COO Scott V. Olrich sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $53.39, for a total transaction of $533,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Loren Alhadeff sold 11,579 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $53.12, for a total value of $615,076.48. The disclosure for this sale can be found here. Insiders sold a total of 600,988 shares of company stock valued at $31,067,181 over the last quarter. 13.60% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Docusign by 40.6% during the 4th quarter. FMR LLC now owns 5,343,427 shares of the company’s stock worth $214,165,000 after buying an additional 1,544,047 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Docusign by 1.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,177,389 shares of the company’s stock worth $268,395,000 after buying an additional 89,628 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Docusign by 24.7% during the 1st quarter. JPMorgan Chase & Co. now owns 4,369,543 shares of the company’s stock worth $226,517,000 after buying an additional 865,651 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Docusign by 17.9% during the 4th quarter. BlackRock Inc. now owns 2,485,042 shares of the company’s stock worth $99,601,000 after buying an additional 376,642 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Docusign by 173.7% during the 1st quarter. Wells Fargo & Company MN now owns 2,018,927 shares of the company’s stock worth $104,661,000 after buying an additional 1,281,178 shares during the last quarter. Institutional investors and hedge funds own 61.16% of the company’s stock.
DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.
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