Needham & Company LLC Reiterates "Hold" Rating for DocuSign (NASDAQ:DOCU)

Needham & Company LLC reissued their hold rating on shares of DocuSign (NASDAQ:DOCU - Free Report) in a report issued on Friday,Benzinga reports.

A number of other equities research analysts also recently commented on the company. Morgan Stanley upped their price objective on DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. Robert W. Baird increased their price target on DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Jefferies Financial Group increased their price target on DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their price target on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a report on Friday, December 6th. Finally, Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $95.58.

DocuSign Stock Up 14.8 %

NASDAQ DOCU traded up $11.06 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's 50 day moving average is $87.97 and its 200-day moving average is $79.37. The stock has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86.

Remove Ads

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during 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%. The firm's revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. As a group, analysts forecast that DocuSign will post 1.17 EPS for the current year.

Insider Transactions at DocuSign

In related news, insider Robert Chatwani sold 14,800 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the transaction, the insider now directly owns 73,414 shares of the company's stock, valued at approximately $7,176,952.64. This represents a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 7,736 shares of the company's stock, valued at $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,422 shares of company stock valued at $9,665,394 over the last three months. Company insiders own 1.66% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new position in DocuSign during the third quarter valued at approximately $28,000. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at approximately $30,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign in the third quarter valued at approximately $33,000. Modus Advisors LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at approximately $36,000. Finally, First Horizon Advisors Inc. lifted its position 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 during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

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.