DocuSign (NASDAQ:DOCU) Price Target Lowered to $98.00 at Bank of America

DocuSign (NASDAQ:DOCU - Free Report) had its target price decreased by Bank of America from $112.00 to $98.00 in a research report sent to investors on Friday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird upped their price objective on shares of DocuSign from $59.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, December 6th. UBS Group upped their price objective on shares of DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Wells Fargo & Company lifted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. JMP Securities reiterated a "market outperform" rating and issued a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Finally, Morgan Stanley lifted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $95.58.

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DocuSign Stock Performance

DOCU traded up $11.06 during midday trading on Friday, reaching $85.76. The company had a trading volume of 11,927,431 shares, compared to its average volume of 2,402,407. The stock has a market cap of $17.33 billion, a PE ratio of 17.68, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The business has a 50-day moving average price of $87.97 and a two-hundred day moving average price of $79.37.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same period last year, the business 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, research analysts anticipate that DocuSign will post 1.17 earnings per share for the current year.

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the transaction, the director now directly owns 7,736 shares of the company's stock, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

A number of large investors have recently added to or reduced their stakes in the business. Wood Tarver Financial Group LLC purchased a new position in shares of DocuSign in the fourth quarter worth about $37,000. Audent Global Asset Management LLC lifted its stake in shares of DocuSign by 382.6% in the 4th quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company's stock valued at $2,467,000 after acquiring an additional 21,742 shares during the last quarter. Siemens Fonds Invest GmbH bought a new stake in shares of DocuSign in the 4th quarter valued at about $772,000. Fluent Financial LLC bought a new stake in shares of DocuSign in the 4th quarter valued at about $694,000. Finally, Total Wealth Planning & Management Inc. bought a new stake in shares of DocuSign in the 4th quarter valued at about $312,000. Hedge funds and other 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.