DocuSign (NASDAQ:DOCU - Free Report) had its price target lowered by Bank of America from $112.00 to $98.00 in a report issued on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.
Several other equities analysts also recently weighed in on the company. Citigroup restated a "buy" rating on shares of DocuSign in a research report on Thursday, March 6th. HSBC restated a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Wells Fargo & Company raised their target price on DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research report on Friday, December 6th. Jefferies Financial Group raised their target price on DocuSign from $80.00 to $95.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upgraded DocuSign from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $95.58.
View Our Latest Research Report on DocuSign
DocuSign Price Performance
DOCU stock traded up $11.06 during mid-day trading on Friday, reaching $85.76. 11,927,431 shares of the company's stock were exchanged, compared to its average volume of 2,402,407. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The stock's 50 day moving average is $87.97 and its 200 day moving average is $79.37. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86.
DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly 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. The company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 earnings per share. On average, research analysts forecast that DocuSign will post 1.17 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm's stock in a transaction on 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 owns 77,851 shares of the company's stock, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the director now directly owns 7,736 shares of the company's stock, valued at $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,422 shares of company stock valued at $9,665,394 over the last quarter. 1.66% of the stock is owned by insiders.
Institutional Investors Weigh In On DocuSign
Institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign in the third quarter valued at $28,000. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at $30,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign in the third quarter valued at $33,000. Modus Advisors LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at $36,000. Finally, First Horizon Advisors Inc. grew its stake in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after buying an additional 201 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.
About DocuSign
(
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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.
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