Citigroup Boosts DocuSign (NASDAQ:DOCU) Price Target to $115.00

DocuSign (NASDAQ:DOCU - Get Free Report) had its price target boosted by equities research analysts at Citigroup from $113.00 to $115.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective suggests a potential upside of 34.88% from the stock's current price.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley upped their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of DocuSign in a report on Friday. Robert W. Baird upped their price objective on shares of DocuSign from $59.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, Bank of America dropped their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $95.58.

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DocuSign Trading Up 2.2 %

Shares of DOCU traded up $1.83 during trading hours on Friday, reaching $85.26. 1,178,016 shares of the company traded hands, compared to its average volume of 2,602,839. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 6.94 and a beta of 1.02. DocuSign has a 12-month low of $48.70 and a 12-month high of $107.86. The stock's fifty day moving average price is $87.82 and its 200 day moving average price is $79.69.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its earnings results 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 firm had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business's revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share. On average, research analysts forecast that DocuSign will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,446,848.00. Following the transaction, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. This represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,422 shares of company stock valued at $8,903,395. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On DocuSign

A number of hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its position in DocuSign by 17.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,215 shares of the company's stock worth $1,548,000 after purchasing an additional 2,612 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new position in shares of DocuSign in the fourth quarter valued at approximately $37,000. Audent Global Asset Management LLC lifted its position in shares of DocuSign by 382.6% in the fourth quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company's stock valued at $2,467,000 after acquiring an additional 21,742 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new position in shares of DocuSign in the fourth quarter valued at approximately $772,000. Finally, Fluent Financial LLC purchased a new position in shares of DocuSign in the fourth quarter valued at approximately $694,000. Hedge funds and other institutional investors own 77.64% of the company's stock.

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.