UBS Group Issues Pessimistic Forecast for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU) had its price target dropped by research analysts at UBS Group from $90.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 12.23% from the stock’s current price.

Several other analysts have also issued reports on DOCU. Wedbush reaffirmed a “neutral” rating and issued a $100.00 target price on shares of DocuSign in a research note on Friday, March 14th. Robert W. Baird set a $93.00 target price on DocuSign in a report on Friday, March 14th. Citigroup raised their target price on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. Finally, Jefferies Financial Group decreased their price target on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $93.08.

DocuSign Price Performance

NASDAQ DOCU traded down $0.65 during trading on Thursday, reaching $75.74. The company’s stock had a trading volume of 600,924 shares, compared to its average volume of 2,722,760. The firm has a fifty day moving average of $81.91 and a 200 day moving average of $82.91. DocuSign has a one year low of $48.70 and a one year high of $107.86. The stock has a market capitalization of $15.34 billion, a PE ratio of 15.62, a P/E/G ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million during 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%. DocuSign’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share. Research analysts expect that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 55,851 shares of company stock valued at $4,607,439 in the last 90 days. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On DocuSign

Hedge funds have recently modified their holdings of the company. Citizens Financial Group Inc. RI boosted its holdings in DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after buying an additional 133 shares during the period. Rakuten Securities Inc. boosted its stake in shares of DocuSign by 20.9% in the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock worth $72,000 after acquiring an additional 138 shares during the period. Synergy Financial Group LTD grew its position in shares of DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after purchasing an additional 140 shares in the last quarter. M&T Bank Corp grew its position in shares of DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after purchasing an additional 143 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in DocuSign by 34.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock valued at $50,000 after purchasing an additional 143 shares during the period. 77.64% of the stock is currently owned by 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.