DocuSign (NASDAQ:DOCU) Earns Hold Rating from Needham & Company LLC

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

A number of other research firms have also weighed in on DOCU. Robert W. Baird increased their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. UBS Group boosted their target price on DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Citigroup reaffirmed a "buy" rating on shares of DocuSign in a research note on Thursday, March 6th. JMP Securities reissued a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Finally, HSBC reaffirmed a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $95.58.

DocuSign Stock Performance

DOCU traded up $11.06 during midday trading on Friday, hitting $85.76. The stock had a trading volume of 11,927,431 shares, compared to its average volume of 2,402,407. DocuSign has a 1 year low of $48.70 and a 1 year high of $107.86. The business has a fifty day moving average of $87.97 and a 200 day moving average of $79.37. The company has a market cap of $17.33 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

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DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm's revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. On average, equities research analysts anticipate that DocuSign will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the sale, the director now directly owns 150,253 shares of the company's stock, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,422 shares of company stock valued at $9,665,394. Corporate insiders own 1.66% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign in the 3rd quarter worth approximately $28,000. Kestra Investment Management LLC purchased a new position in shares of DocuSign during the 4th quarter worth $30,000. Brooklyn Investment Group bought a new stake in DocuSign during the third quarter valued at about $33,000. Modus Advisors LLC bought a new position in shares of DocuSign in the fourth quarter worth about $36,000. Finally, First Horizon Advisors Inc. lifted its position in shares of DocuSign by 102.6% during the 4th 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. Institutional investors own 77.64% of the company's stock.

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.