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

DocuSign (NASDAQ:DOCU - Get Free Report) had its price objective increased by investment analysts at Citigroup from $113.00 to $115.00 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 price target indicates a potential upside of 34.33% from the stock's previous close.

A number of other analysts also recently weighed in on DOCU. Robert W. Baird raised their price target on shares of DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Morgan Stanley lifted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Wells Fargo & Company boosted their price target on shares of DocuSign from $70.00 to $73.00 and gave the company an "underweight" rating in a report on Friday, March 14th. Bank of America reduced their price target on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Finally, Jefferies Financial Group boosted their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $95.00.

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DocuSign Trading Up 0.7 %

NASDAQ DOCU traded up $0.60 during mid-day trading on Friday, reaching $85.61. 2,871,088 shares of the company's stock traded hands, compared to its average volume of 2,469,584. The company has a fifty day simple moving average of $87.75 and a 200-day simple moving average of $79.87. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86. The company has a market cap of $17.30 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 6.94 and a beta of 1.02.

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

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares of the company's stock, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the transaction, the insider now owns 43,781 shares in the company, valued at approximately $3,947,732.77. This represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,034 shares of company stock valued at $5,932,352. 1.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 111 Capital purchased a new stake in DocuSign in the 4th quarter worth approximately $1,721,000. Wealth Enhancement Advisory Services LLC lifted its position in DocuSign by 17.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,215 shares of the company's stock worth $1,548,000 after buying an additional 2,612 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new stake in DocuSign in the 4th quarter worth approximately $37,000. Audent Global Asset Management LLC lifted its position in DocuSign by 382.6% in the 4th quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company's stock worth $2,467,000 after buying an additional 21,742 shares in the last quarter. Finally, Siemens Fonds Invest GmbH bought a new position in shares of DocuSign during the 4th quarter valued at $772,000. 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.