DocuSign (NASDAQ:DOCU) Given New $115.00 Price Target at Citigroup

DocuSign (NASDAQ:DOCU - Get Free Report) had its target price increased by investment analysts at Citigroup from $113.00 to $115.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price target suggests a potential upside of 35.13% from the stock's previous close.

DOCU has been the topic of a number of other research reports. UBS Group cut their price objective on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday. Piper Sandler lifted their price objective on DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 target price on shares of DocuSign in a research note on Friday. HSBC reaffirmed a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. upgraded shares of DocuSign from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, DocuSign currently has an average rating of "Hold" and an average target price of $95.58.

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DocuSign Stock Down 0.8 %

Shares of NASDAQ DOCU traded down $0.66 during trading hours on Friday, reaching $85.10. 2,572,156 shares of the stock traded hands, compared to its average volume of 2,403,380. The company's 50-day simple moving average is $87.97 and its two-hundred day simple moving average is $79.52. The company has a market capitalization of $17.19 billion, a P/E ratio of 17.55, a price-to-earnings-growth 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.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The business's quarterly revenue was up 9.0% compared to the same quarter last year. As a group, sell-side analysts forecast that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Blake Jeffrey Grayson sold 15,588 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the completion of the transaction, the chief financial officer now owns 85,851 shares in the company, valued at $8,394,510.78. The trade was a 15.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Solvik sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,888 shares of company stock worth $8,856,718. 1.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DocuSign

Several institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock worth $548,726,000 after purchasing an additional 3,908,139 shares during the period. Invesco Ltd. lifted its stake in shares of DocuSign by 283.9% in the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock valued at $310,048,000 after purchasing an additional 2,549,310 shares during the period. Norges Bank acquired a new stake in DocuSign during the fourth quarter valued at $223,196,000. Arrowstreet Capital Limited Partnership raised its position in shares of DocuSign by 201.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock worth $194,118,000 after acquiring an additional 1,442,639 shares during the period. Finally, Jericho Capital Asset Management L.P. boosted its stake in shares of DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock worth $427,642,000 after acquiring an additional 1,205,500 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other 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.