DocuSign (NASDAQ:DOCU) Stock Price Expected to Rise, Citigroup Analyst Says

DocuSign (NASDAQ:DOCU - Get Free Report) had its target price upped by research analysts at Citigroup from $113.00 to $115.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 35.28% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Wedbush reissued a "neutral" rating and set a $100.00 target price on shares of DocuSign in a research report on Friday. Hsbc Global Res raised DocuSign to a "moderate sell" rating in a report on Friday, December 6th. HSBC restated a "reduce" rating on shares of DocuSign in a report on Friday, December 6th. UBS Group decreased their price target on DocuSign from $100.00 to $90.00 and set a "neutral" rating for the company in a report on Friday. Finally, Robert W. Baird raised their price objective on DocuSign from $59.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $95.00.

DocuSign Stock Up 1.9 %

NASDAQ:DOCU traded up $1.58 on Friday, hitting $85.01. The stock had a trading volume of 3,243,757 shares, compared to its average volume of 2,609,455. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The business's fifty day moving average is $87.75 and its 200 day moving average is $79.87. The company has a market cap of $17.17 billion, a PE ratio of 17.53, a P/E/G ratio of 6.94 and a beta of 1.02.

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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, topping analysts' consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million for the quarter, compared to analysts' expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.76 EPS. Equities analysts predict that DocuSign will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction dated 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 owns 73,414 shares of the company's stock, valued at $7,176,952.64. The trade was a 16.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares of the company's stock, valued at $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,422 shares of company stock valued at $8,903,395 in the last 90 days. 1.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in DocuSign during the third quarter worth about $28,000. Kestra Investment Management LLC purchased a new position in shares of DocuSign during the fourth quarter worth about $30,000. Brooklyn Investment Group bought a new position in shares of DocuSign in the third quarter worth approximately $33,000. Modus Advisors LLC purchased a new stake in DocuSign in the fourth quarter valued at approximately $36,000. Finally, First Horizon Advisors Inc. lifted its position in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares during the last quarter. 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.