DocuSign (NASDAQ:DOCU) Given New $113.00 Price Target at Citigroup

DocuSign (NASDAQ:DOCU - Get Free Report) had its price objective lifted by equities research analysts at Citigroup from $87.00 to $113.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price points to a potential upside of 5.89% from the company's previous close.

DOCU has been the topic of several other reports. Robert W. Baird lifted their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research note on Tuesday. Jefferies Financial Group raised their target price on DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday. Piper Sandler upped their price target on DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Wells Fargo & Company raised their price objective on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $92.45.

DocuSign Stock Up 27.5 %

Shares of DOCU traded up $23.03 during midday trading on Friday, hitting $106.71. The company had a trading volume of 15,242,838 shares, compared to its average volume of 2,931,807. The company's 50 day moving average price is $73.75 and its 200 day moving average price is $61.68. DocuSign has a 52 week low of $44.34 and a 52 week high of $107.86. The stock has a market cap of $21.66 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 8.33 and a beta of 0.92.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same period last year, the company posted $0.09 EPS. The firm's quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that DocuSign will post 1.03 EPS for the current fiscal year.

Insider Activity at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of the company's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the transaction, the insider now owns 70,748 shares in the company, valued at $3,923,684.08. This represents a 17.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,648 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the sale, the chief executive officer now owns 115,589 shares of the company's stock, valued at $7,220,844.83. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock valued at $4,441,529 in the last 90 days. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of DocuSign

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOCU. J.W. Cole Advisors Inc. grew its stake in shares of DocuSign by 2.0% during the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company's stock worth $493,000 after purchasing an additional 155 shares during the period. Resonant Capital Advisors LLC raised its stake in DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company's stock worth $1,088,000 after buying an additional 157 shares during the period. Optimist Retirement Group LLC grew its stake in DocuSign by 3.8% in the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company's stock valued at $274,000 after acquiring an additional 161 shares during the period. V Square Quantitative Management LLC grew its position in shares of DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company's stock valued at $187,000 after purchasing an additional 172 shares during the period. Finally, Dakota Wealth Management lifted its stake in DocuSign by 0.8% in the second quarter. Dakota Wealth Management now owns 23,022 shares of the company's stock valued at $1,232,000 after buying an additional 181 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.