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

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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.

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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.

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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

(Get Free Report)

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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